Metro Washington Airport Authority, D.C.; Transportation, Airport Mar 01
Standard & Poors, March 2001
Abstract
The rating on Metro Washington Airport Authority (MWAA), D.C.'s bonds reflects the authority's strong market position and demand profile combined with historically solid financial performance and large capital requirements. Specific credit strengths include: The combined net revenue pledge of two airport enterprises--Ronald Reagan Washington National (National) and Dulles International (Dulles)--each serving different markets (short haul and long haul), and a predominately wealthy, economically diverse origin and destination service area; Diverse air carriers within the airport system, despite United Airlines' and its partners' concentration at Dulles (59% of enplanements in 2000) and relatively stable systemwide trends in enplanements at both airports, with National at 7.85 million in 2000 and Dulles at 9.97 million in 2000. Should the proposed merger with United...
Companies mentioned in this report are: Metropolitan Washington Airports Authority
Action: New Rating
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Research Type: Full Analysis
Metropolitan Washington Airports Authority
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