Bradley International Airport Receives ‘A+’ Revenue Bond Rating
The Connecticut Airport Authority (CAA) is pleased to announce that the credit rating agency, S & P Global Ratings, has raised Bradley International Airport’s rating on its general airport revenue refunding bonds.
The long-term rating for the State of Connecticut’s general airport revenue refunding bonds series 2011A and 2011B issued for Bradley International Airport has been raised from “A” to “A+”, with a stable outlook.
“S & P Global Ratings is one of the most respected and widely used sources for credit ratings,” said Charles R. Gray, Chairman of the CAA Board of Directors. “We’re pleased that the agency shares our confidence in Bradley International Airport’s fiscally responsible management team and the airport’s continued success.”
S & P Global Ratings assigns a credit rating for Bradley International Airport’s public debt obligations. Some of the factors taken into account during the rating process for the general airport revenue refunding bonds include: the airport’s strong financial and risk management practices, steadily improving liquidity, low and declining debt burden, strong origin and destination (O&D) base, diverse service area economy, airline diversity, and increasing number of enplanements and positive trends.
“Our business model is to attract new air carriers and to improve facilities while maintaining a competitive cost structure,” said Kevin A. Dillon, A.A.E., Executive Director of the CAA. “The raised rating demonstrates our continued financial stability and growth. It is an important indicator of Bradley Airport’s strength in the aviation marketplace and its key role as an economic driver in the region.”
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