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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

  • ID: 1828975
  • March 2011
  • Region: Global
  • Standard & Poors

FEATURED COMPANIES

  • San Jose
  • San Jose Intl Arpt
  • MORE

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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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