The Greater Orlando Aviation Authority (GOAA) has received upgrades to its senior and subordinate airport facilities revenue bond ratings from Moody’s, Fitch, and Kroll Bond Rating Agency (KBRA), highlighting confidence in GOAA’s financial management and its investments in major infrastructure projects.
Senior Bond Ratings:
- Moody’s: Aa2
- Fitch: AA
- KBRA: AA+
Subordinate Bond Ratings:
- Moody’s: Aa3
- Fitch: AA-
- KBRA: AA
This recognition follows a June upgrade by S&P Global Ratings to AA for GOAA’s senior bonds.
The upgrades come as GOAA prepares to issue Series 2024 bonds to support its $5.4 billion Capital Improvement Program (CIP), which focuses on expanding capacity and improving the traveler experience at Orlando International Airport (MCO).
“We are dedicated to delivering a world-class experience for the nearly 60 million guests who travel through our terminals each year,” said Kevin J. Thibault, Chief Executive Officer of GOAA.
Key strengths highlighted by credit agencies include MCO’s dominant position as Florida’s busiest airport, its importance as a global tourism hub, and GOAA’s experienced management team.
The CIP includes projects such as infrastructure improvements in Terminals A & B, replacement of the Automated People Mover system in Airsides 2 & 4, and site and apron development for Terminal C Phase 2. These efforts aim to modernize the airport, enhance customer experiences, and increase operational capacity.
Revenue bonds, including the Series 2024 issuance, will play a critical role in funding these improvements, which are part of GOAA’s forward-looking strategy to meet the growing demands of air travel.
Comments are closed, but trackbacks and pingbacks are open.