Summary: Memphis-Shelby County Airport Authority, Tennessee Memphis International Airport, Tennessee; Airport Jan 11

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services assigned its 'A-' long-term rating to Memphis-Shelby County Airport Authority (MSCAA or the authority), Tenn.'s $139.8 million series 2011A airport refunding revenue bonds and $41.15 million series 2011B airport refunding revenue bonds. The authority is issuing both series of bonds for Memphis International Airport (MEM or the airport). The bonds will be used to refund all or a portion of the authority's 1999D, 2001A, and 2001B bonds to achieve debt service savings. At the same time, Standard & Poor's affirmed its 'A-' underlying rating (SPUR) on the authority's remaining parity debt. The outlook is stable. MSCAA owns and operates the airport as well as the Charles W. Baker Airport and the General DeWitt Spain Airport,...

Companies mentioned in this report are: Memphis Intl Arpt,Memphis-Shelby Cnty Arpt Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Memphis Intl Arpt,Memphis-Shelby Cnty Arpt Auth

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