Standard and Poor’s Ratings Services (S&P) once again affirmed its ‘AA-’ rating on Phoenix Sky Harbor International Airport’s senior-lien revenue bonds. S&P also affirmed its ‘A+’ ratings on the airport’s junior-lien revenue bonds.
In addition, the airport’s General Airport Revenue Bond ratings on the senior (Aa3) and the junior (A1) liens.
The ratings agencies cite several factors that contributed to Sky Harbor’s high bond ratings, including a robust demand for air service in the market, the airport’s low cost structure for airlines, an experienced and effective administrative team and the Airport’s recent strong financial performance.
A higher bond rating means the airport pays lower interest rates when it borrows funds for airport improvements and modernization projects.
“Sky Harbor’s excellent bond ratings reflects the consistently smart, shrewd and strong management at America’s Friendliest Airport,” said Phoenix Mayor Greg Stanton. “Phoenix residents can be proud that Phoenix Sky Harbor continues to have one of the highest ratings of any airport in the country.”
No local tax dollars are used to support Phoenix Sky Harbor. The airport is funded with the revenue that it generates.
