Fitch Ratings last week affirmed its underlying A-plus rating on $99.5 million of Albuquerque’s outstanding senior-lien airport revenue bonds and the underlying A-rating on $38.5 million of outstanding subordinate-lien revenue bonds. Both ratings on the Sunport facility have stable outlooks.

“While the airport’s origin and ­destination traffic base provides a relatively stable base of service, the airport is susceptible to both the changes in ­passenger demand that are largely based on economic conditions and to the ­scheduling decisions of Southwest Airlines that continues to account for the majority of Sunport’s enplanements,” noted analyst Tanya Langman. “The carrier has grown from 50.6% of the ­market share in fiscal year 2008 to 55.5% in ­fiscal 2010.”

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