Several major airport credits could be negatively affected by operational shifts in the wake of the US Airways/American Airlines merger, but rating agencies are still waiting before deciding if downgrades might be warranted.

The potential credit pressure stems from a loss of connecting traffic at some of the airports currently used as hubs by the two carriers. Since passenger traffic is a key driver of ratings for airports, a consolidation of routes or diversion of operations away from one of the existing hubs could adversely affect ratings, especially for airports carrying a lot of debt.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.