Standard and Poor’s Ratings Service affirmed its AA- rating on senior-lien revenue bonds and it’s A+ mark on junior-lien revenue bonds at Phoenix Sky Harbor International (PHX).
S&P’s report cited a strong collection of origination and destination markets, an experienced and effective administration team, and “excellent integration of airport and city decision-making” in affirming the ratings, according to a press release. Only eight other airports in the country share the status.
Revenue bonds are used to fund large airport projects, such as the PHX Sky Train.
“S&P affirmation assures that Sky Harbor has access to the most attractive credit terms the market has to offer,” says Phoenix Mayor Greg Stanton.
