Summary: 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
Action: Upgraded

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Hawaii Arpt Sys

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