| Philadelphia International Airport's "A" Bond Rating Affirmed by
Fitch IBCA
Fitch IBCA, one of the
world’s leading bond rating agencies, has affirmed the "A" rating on
Philadelphia International Airport’s general revenue bonds. Fitch credited
the Airport’s strong enplanements growth and financial performance,
diverse service area and solid management as key factors in the continuation of
the "A" rating. The bonds, which total $962.170 million, consist
of:
- $205.465 million
series 1995A airport revenue bonds
- $100.17 million series
1997A airport revenue refunding bonds
- $96.73 million series
1997B airport revenue bonds
- $116.105 million
series 1998A airport revenue refunding bonds
- $443.7 million series
1998B airport revenue bonds
"We are pleased that
Fitch IBCA has recognized the progress that the City continues to make in
developing and managing Philadelphia International Airport," stated Edward
Anastasi, the Airport’s Deputy Director of Aviation for Business &
Finance.
Philadelphia
International Airport’s bonds will continue to be an attractive investment
and an important financing source for future Airport projects. All Airport
projects are funded without the use of local tax dollars. Projects are funded
by landing fees, space rentals and other revenues generated by the airlines,
concessionaires and other commercial users of the Airport’s
facilities.
The Airport continues to
be a major economic force in the region, contributing an estimated $6 billion
to the economy while providing a safe, clean and friendly facility for the
traveling public.
For Information
Contact:
Mark Pesce
(215) 937-6944
Philadelphia International Airport, owned and operated by the City of
Philadelphia, is a self-sustaining entity that operates without the use of
local tax dollars. It is one of the largest economic engines in Pennsylvania,
generating an estimated $6 billion in revenue for the regional economy, and
employing a workforce of nearly 20,000.
09/21/00
Back to the News section.
|
