Fitch Ratings Affirms Hartsfield-Jackson Airport’s Bond Rating at ‘A+’
PFC hybrid bonds rated ‘A’ with all airport bonds maintaining a Stable outlook
ATLANTA – Hartsfield-Jackson Airport officials announced today that for the sixth time in a row, Fitch Ratings has affirmed its ‘A+’ to approximately $1.95 billion of senior-lien airport general revenue bonds issued by the City of Atlanta on behalf of the Airport.
“As the busiest passenger airport in the world, it is critical that our finances match the world-class service and amenities that Hartsfield-Jackson offers to the traveling public,” said Atlanta Mayor Kasim Reed. “Our airport has its financial house in order and this rating shows that we are in strong financial shape.”
For the fifth year in a row, Fitch also affirmed Hartsfield-Jackson’s outstanding $914.3 million passenger facility charge (PFC) and subordinate lien revenue bonds at 'A.' The Rating Outlook for all bonds is Stable.
“Atlanta’s airport is on solid financial ground and this announcement of our ‘A+’ rating and Stable outlook confirms that,” said Hartsfield-Jackson’s general manager Louis Miller. “After successfully opening the Maynard H. Jackson, Jr. International Terminal last year, this affirmed rating sends an unmistakable signal to the markets that we are well-positioned to meet future growth and demands.”
Among other reasons for the rating affirmation, Fitch Ratings underscored the importance of Hartsfield-Jackson’s steady traffic base and key Delta hub position. From the report, “Atlanta maintains an established status as the busiest operating airport in the world with over 47 million annual enplaned passengers. Carrier concentration exists with Delta Air Lines at 78% of passenger traffic. Passenger traffic trends demonstrate solid resiliency relative to most other large-hub airports and limited competition exists from other regional airports.”
Hartsfield-Jackson Atlanta International Airport
Hartsfield-Jackson is the world’s busiest airport, serving more than 95 million passengers annually with nonstop service to 160 U.S. destinations and nearly 70 international destinations in more than 45 countries. The Airport is a frequent recipient of awards of excellence for concessions, operations, architectural engineering and construction - including the 2011 Global and North American Airport Efficiency Excellence Award from the Air Transport Research Society (for more information, go to www.atrsworld.org).
It is undergoing $6 billion-plus in capital improvements, which include a new, energy-efficient rental car center; a new, 12-gate international terminal (for more information, go to
www.atlanta-airport.com/internationalterminal/;and aesthetic and functional upgrades to its concourses, people movers and parking services. For more information, go to www.atlanta-airport.com. Check out the Airport’s YouTube
channel by visiting
http://www.youtube.com/AtlantaHartsfield, and become a fan on Facebook.