Standard & Poor's Ratings Services said it raised its underlying rating to A-plus from A on Atlanta, Ga.'s hybrid passenger facility charge subordinate-lien bonds, issued on behalf of Hartsfield-Jackson Atlanta International Airport.
At the same time, Standard & Poor's affirmed its A-plus long-term rating and SPUR on the city's existing general revenue bonds, also issued on behalf of the airport. The outlook on all ratings is stable.
The raised rating on the hybrid passenger facility charge subordinate-lien bonds reflects 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.
The Department of Aviation is responsible for managing, operating, and developing the airport and any other airfields that the city may control in the future.