Airport revenue bonds

The nation's 3,300 airports face $151 billion in infrastructure needs over the next five years, according to the 2023 U.S. Airport Infrastructure Needs Report.

The deal comes after months of disagreements over ballooning costs for the project, which was first announced in 2018.

Delivery delays for Boeing planes are impacting airports, with Southwest Airlines recently announcing it is pulling out or reducing flights at some facilities.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.

The replacement Hollywood Burbank Airport terminal won't have more gates, but will be less cramped and resolve its noncompliance with FAA safety regulations.

As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.

Funding for a $2.55 billion expansion and renovation of George Bush Intercontinental Airport's Terminal B had been held up for months by the city's former and current controller.

Fitch analysts cited improved financial metrics, a full recovery on enplanements and great clarity on its capital program.

BofA Securities is the latest firm to scoop up former employees from Citi, which decided to shutter its muni division late last year.

Chicago will issue $80.865 million of Series 2024A and 2024B senior lien airport revenue refunding bonds for Midway, with a pricing date to be determined.

Bond trustee UMB Bank notified bondholders that Branson Airport's leaders want to pursue federal grant funding for maintenance and infrastructure upgrades, but it will require bondholder approval.

The Houston City Council was unable to vote on initial financing for a $2.55 billion terminal renovation project at George Bush Intercontinental Airport without certification by the city controller.

"This bill is aimed at providing more economic opportunity for our cash-strapped airports," said bill sponsor Rep. Chip Brown before the House passed it 98-2.

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.