Moody's Investors Service said it has upgraded the rating on the Metropolitan Nashville Aviation Authority's Special Facility Rental Bonds (MPC CONRAC LLC Project), Series 2010 to A3 from Baa1.
The rating outlook is stable.
The upgrade is based on the successful completion of construction on time and under budget and customer facility charge (CFC) collection levels exceeding projected levels at the time of initial rating which have resulted in additional liquidity.
The stable outlook is based on Moody's expectation of continued economic growth in the Nashville region, increased rental transaction days and growing enplanement trends at Nashville International Airport (BNA).
