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San Jose International Airport, CA's Revenue Bond Rating Outlook Revised To Negative On Operating Challenges Mar 11 Product Image

San Jose International Airport, CA's Revenue Bond Rating Outlook Revised To Negative On Operating Challenges Mar 11

  • Published: March 2011
  • Region: Global
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) March 18, 2011--Standard & Poor's Ratings Services revised the rating outlook to negative and affirmed its 'A' rating and underlying rating (SPUR) on San Jose International Airport, Calif.'s $1.0 billion senior airport revenue bonds outstanding. "The rating actions reflect our view of the airport's challenges in the current operating environment, including the potentially increasing cost structure and slim cash flow coverage in the near term, mitigated in part by our assessment of the airport's market and service area," said Standard & Poor's credit analyst Mary Ellen Wriedt. In our opinion, cash flow debt service coverage in fiscal 2010 as calculated by Standard & Poor's (with designated passenger facility charges added to revenues rather than offsetting...

Companies mentioned in this report are: San Jose Intl Arpt,San Jose
Action: Affirmed
Action: Outlook: Negative

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San Jose Intl Arpt,San Jose

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