Philadelphia, Pennsylvania Philadelphia International Airport; Airport; Joint Criteria Oct 10
- ID: 2030410
- October 2010
- Region: Global, Pennsylvania
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A+' rating to Philadelphia, Pa.'s airport revenue bonds series 2010A and revenue refunding bonds series 2010B, C, and D, issued for Philadelphia International Airport (PHL). At the same time, Standard & Poor's affirmed its 'A+' rating on the airport's previously issued parity airport revenue bonds, of which approximately $1.1 billion remain outstanding. We also affirmed our 'AAA/A-1+' rating on the airport's parity variable-rate demand bonds series 2005C, of which $168.6 million remain outstanding. The outlook is stable. The 'AAA/A-1+' rating reflects the application of joint criteria (assuming low correlation) of Standard & Poor's underlying rating (SPUR) on the airport (A+) and the direct-pay, irrevocable letter of credit provided by TD Bank N.A....
Companies mentioned in this report are:
- Philadelphia International Airport
Action: New Rating
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Research Type: Full Analysis