S&P bumps up Lambert airport debt rating to A-
Standard & Poor’s raised the debt rating for Lambert-St. Louis International Airport just as the airport prepares to sell bonds for terminal upgrades.
The credit rating agency raised its underlying rating one notch to A— from BBB+ late last week. Standard & Poor’s based the upgrade on the airport’s "stable financial performance" during difficult economic times and actions taken by the airport’s managers to provide financial cushions. Those included creation of a debt service stabilization fund, which has a current balance of $17 individual health insurance plans.3 million.
Last week, Lambert officials announced their plan to sell up to $125 million in bonds to make terminal and airfield improvements. St. Louis Comptroller Darlene Green’s office suggested Monday that the credit upgrade will reduce interest and issuance costs.
Filed under: business by Fred