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Phoenix Civic Improvement Corp., Arizona Phoenix Sky Harbor International Airport; Airport; Non-recourse proj, single or multi tenants, entert Jan 13 Product Image

Phoenix Civic Improvement Corp., Arizona Phoenix Sky Harbor International Airport; Airport; Non-recourse proj, single or multi tenants, entert Jan 13

  • ID: 2383853
  • January 2013
  • Region: Global, Arizona
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating to Phoenix Civic Improvement Corp., Ariz.'s $208 million series 2013 senior-lien revenue refunding bonds issued for the Phoenix Sky Harbor International Airport (the airport). In addition, Standard & Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on the airport's senior-lien revenue bonds, its 'A+' rating and SPUR on the airport's junior-lien revenue bonds, and its 'A-' SPUR on the airport's rental car facility charge taxable revenue bonds outstanding. The outlook is stable. The ratings reflect our view of the airport's: Solid, predominately origination and destination (O&D) market, at 58%, and near-monopolistic position as the primary airport in the state; Low cost structure, with debt per enplaned passenger at $64 for...

Companies mentioned in this report are:
- Phoenix Sky Harbor Intl Arpt
- Phoenix Civ Imp Corp

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

Note: Product cover images may vary from those shown

- Phoenix Sky Harbor Intl Arpt
- Phoenix Civ Imp Corp

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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