Fitch: U.S. Airport Credits Remain Strong; Traffic to Expand

December 9, 2015 12:02 PM EST

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Peer Review of U.S. Airports (Attribute Assessments, Metrics and Ratings)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=874137

U.S. airports ratings remain largely in the 'A' category with passenger traffic volume growth supporting stable financial profiles for most U.S. airports despite the ongoing capital program needs in the sector, according to a new Fitch Ratings report.

'Approximately 90% of airport sector ratings currently have Stable Outlooks, demonstrating the relatively low credit risk and the resilience of airport cash flows,' said Seth Lehman, Senior Director in Fitch's Global Infrastructure Group.

Fitch upgraded the rating on two airports during the past 12 months (San Jose to 'A-' and Commonwealth of Northern Marianna Islands to 'B+') as well as revised the Rating Outlook on six airports to Positive (including large-hubs Chicago O'Hare Airport and Hillsborough County Airport Authority/Tampa Airport).

Highest rated airports are typically those with a strong underlying market or franchise driving demand, overall stability of cash flows through contractual agreements with airlines and other commercial users and healthy financial metrics. Conversely, weakest rated airports include those serving small markets or secondary airports subject to competition for passengers, or thinner financial metrics and elevated leverage.

The report 'Peer Review of U.S. Airports' is available at 'www.fitchratings.com' or by clicking on the above link.

Additional information is available at 'www.fitchratings.com'.

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Fitch Ratings
Seth Lehman
Senior Director
+1-212-908-0755
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Jeffrey Lack
Director
+1-312-369-9171
or
Emma Griffith
Director
+1-212-908-9124
or
Media Relations:
Sandro Scenga, +1 212-908-0278
[email protected]

Source: Fitch Ratings



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