Hawaii Airport System; Airport Jul 11
Standard & Poors, July 2011
Abstract
Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'A' from 'A-' on Hawaii Airport System's airport system revenue bonds. The outlook is stable. The rating action reflects our view of the airport system's: Long-standing practice of maintaining a strong liquidity position; Greater certainty regarding the scope and size of the capital improvement plan; and Management's plan to cease providing rate mitigation to airlines, which we believe improves the system's financial profile. The ratings further reflect our view of the airport's: Monopolistic position and very high essentiality for transport within the state (it serves a unique travel market with 15 airports throughout Hawaii and no significant concentration of carriers); Historically very strong liquidity position for...
Companies mentioned in this report are: Hawaii Arpt Sys,Hawaii
Action: Upgraded
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: Full Analysis
Hawaii Arpt Sys,Hawaii
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