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Philadelphia, Pennsylvania Philadelphia International Airport; Airport; Joint Criteria Oct 10

  • ID: 2030410
  • October 2010
  • Region: Global, Pennsylvania
  • Standard & Poors
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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
- Philadelphia

Action: New Rating

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

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- Philadelphia International Airport
- Philadelphia

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