Airport revenue bonds

Denver International Airport returns to the municipal market boosted by a rating upgrade as it recovers from passenger and revenue losses in the pandemic.

S&P raised the outlook to positive for St. Louis Lambert's general credit and Chicago O'Hare's customer facility charge credit.

The airport benefits from growing population “that skew[s] young and wealthy,” the rating agency said.

The finance team is already lined up for the first of multiple issuances of bonds to help launch the first phase of the $9.5 billion New Terminal One project.

The move to take back local control came a few months after new leadership took the helm at the airport.

The airport was heavily exposed to the now-defunct JetBlue airline, but Southwest has filled the gap.

The state's Local Government Commission approved more than $1.5 billion in bond and financing agreements, including more than $600 million for the airports.

Fitch affirmed the Los Angeles-area airport's A rating and raised its outlook to stable though a $1 billion terminal project stalled during the pandemic.

A lot is at stake for facilities like Los Angeles International Airport, which has a $15 billion capital improvements program underway.

The Port Authority of New York and New Jersey is a "trailblazer" in public-private partnerships, and P3 investors hope to see more action in U.S. airports.