Airport revenue bonds

The agencies cited the authority's strong performance and position.

The $4.5 billion of New York Transportation Development Corp. bonds sold for the P3 won the Northeast category of The Bond Buyer's 2024 Deal of the Year awards.

The infrastructure grants are bolstered by bond financing.

The Texas city expects to finance 72% of the expansion program, which includes an arrivals and departures hall, with general airport revenue bonds.

The commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion

The airport's first new money foray into the muni market in nearly 12 years will begin to fund a $1.3 billion transformation plan.

The triple-tax-exempt bonds should be in demand, especially the non-AMT series, analysts said.

LINXS, the private developer consortium, and Los Angeles World Airports struck an agreement on a timeline for completion of the people mover project, pushing Fitch Ratings' outlook higher.

Chicago will bring to market $1 billion of bonds for O'Hare International Airport, part one of a three-phase financing plan for 2024.

Dallas Fort Worth International Airport received a S&P rating upgrade and a positive rating outlook from Moody's ahead of a $750 million bond sale next week.

The Federal Aviation Administration's fourth round of funding through the Airport Improvement Program covers 320 grants in 46 states.

Thursday's pricing of senior revenue bonds comes after Fitch Ratings upgraded the airport's subordinate debt.

The airport reports that both passenger and freight traffic has grown well beyond pre-pandemic levels.

The New Terminal One project was able to flex its construction progress, which the P3 backers say may have encouraged investors in a deal upsized by $1 billion.

The private-activity bonds funding LAX's automated people mover project have been downgraded to junk by Fitch amid delays and disagreements with the private developer. But Fitch affirmed the airport's AA rating.

Another round of grants authorized in the 2021 Infrastructure Investment and Jobs Act is going out to 129 airports in 40 states.

The low-investment-grade offering for a high-profile public private partnership stood out in a crowded airport sector.

Driven by ongoing capital expenditure funding and current refunding opportunities, airport issuance is estimated at $21 billion in 2024, with a slew of from June through September and more planned in December, according to Ramirez.

The ratings agency cited growing enplanement counts, expectations of resilience during future economic downturns, and strong management for its upgrade to AA from AA-minus.

The Metropolitan Washington Airports Authority plans to refund about $400 million and sell $429 million of new money for its capital construction program.