Airport revenue bonds

U.S. DOT Deputy Secretary Polly Trottenberg traveled to Miami-Dade County to highlight the $27 million of funding provided under the bipartisan infrastructure law to Miami International Airport's improvement projects.

The terminal project grants come as air traffic officially recovered to pre-pandemic levels last year.

The upcoming fiscal 2025 budget will take "some first steps" to address a structural gap of about $158 million, Melissa Dubowski said.

Newark Liberty, John F. Kennedy and LaGuardia airports remain on track to see their busiest year ever as 132 million passengers have passed through in 2023.

The nation's fourth-largest city will have new officials at the helm of its government and finances for the first time in eight years.

The municipal bond rally has brought two big Illinois issuers into the market with plans to sell refunding bonds this week.

City Controller Chris Brown called for more due diligence on financing plans for a $2.6 billion project to renovate Bush Intercontinental Airport's Terminal B.

Fitch also affirmed the GOAA's AA-minus rating on $1.8 billion of outstanding senior lien airport facilities revenue bonds and A-plus on $867 million of subordinate lien airport facilities revenue bonds.

The Metropolitan Airports Commission will sell about $125 million of bonds to complete its share of financing for the largest interior renovation of 61-year-old Terminal 1.

Year-to-date, MIA has seen passengers levels at 113% of pre-COVID 19 levels, boosted by domestic travel, according to a report from BofA Global Research.