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

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

  • Published: 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: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured READ MORE >

- Phoenix Sky Harbor Intl Arpt
- Phoenix Civ Imp Corp

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