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Sacramento International Airport, California; Transportation, Airport Jul 02
Standard & Poors, July 2002
The new and affirmed 'A+' ratings on Sacramento County airport system, Calif.'s senior airport revenue bonds, and the affirmed 'A' rating on the county's subordinate lien revenue bond--all issued for Sacramento International Airport--are based upon: Continued strong financial operations evidenced by high coverage levels and a strong cash position; Competitive airline costs, low debt levels and a very strong origination and destination (O/D) market; Strong market position--with Southwest Airlines as the number one service provider--and a strong service area economy; and Positive historical enplanement growth and a strong demand recovery after September 11th. Offsetting these strengths is expected higher airline costs in conjunction with the debt financing of the capital program. The bonds are secured by net revenues of the...
Companies mentioned in this report are: Sacramento Intl Arpt,Sacramento Cnty
Action: New Rating
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Research Type: Full Analysis
Sacramento Intl Arpt,Sacramento Cnty