Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-minus from A-plus on Atlanta, Ga.'s airport general revenue bonds and hybrid passenger facility charge (PFC) subordinate-lien bonds, issued on behalf of Hartsfield Jackson Atlanta International Airport.
The outlook on all ratings is stable.
"The raised rating reflects our view of the stable enplanement demand at a key hub in the nation with low debt per enplanement, low airline costs, and good debt service coverage," said Standard & Poor's credit analyst Todd Spence. "The raised rating on the hybrid passenger facility charge subordinate-lien bonds reflects our view of the airport's strong historical and projected coverage, stable enplanement trends, no additional debt plans in the near term, and the added security of a subordinate pledge of general airport revenue bond revenues."
Hartsfield-Jackson Atlanta International Airport is owned by the city of Atlanta and is operated as an enterprise fund of the city. The Department of Aviation operates the airport.
