Standard & Poor's Ratings Services raised its long-term rating to 'A+' from ‘A’ for the Metropolitan Nashville Airport Authority’s (MNAA) outstanding airport improvement revenue bonds issued for Nashville International Airport (BNA). In addition, Standard & Poor's affirmed the long-term rating on MNAA’s series 2010 special facility revenue bonds issued for BNA’s consolidated rental car facility project. Also, Standard & Poor's affirmed its 'AAA/A-1' rating on the series 2008A bonds. The outlook on all ratings is stable.
In raising the rating, Standard & Poor’s pointed out the airport’s strong competitive position, decreasing debt burden, increased activity levels and low airline costs, noting they are lower than the median for other 'A' rated airports.
“The raising of MNAA’s bond rating underscores continued passenger growth, increased visitor and convention traffic to Nashville and responsible fiscal management of our airports,” Rob Wigington, president and CEO of the MNAA, said. “As a major economic engine for our region, our financial stability helps ensure we are able to continue delivering greater air service to more destinations to improve the economic vitality and quality of life of Nashville and the Middle Tennessee region. We strive to maintain low costs and high customer service for our passengers, airlines and business partners.”
MNAA owns and operates BNA and John C. Tune Airport, one of the busiest general aviation airports in Tennessee. BNA is the sixth fastest growing airport among the top 50 airports in North America.
The Metropolitan Nashville Airport Authority (MNAA) was established in 1970, and owns and operates Nashville International Airport (BNA) and John C. Tune Airport (JWN). For more information, please visit www.flynashville.com
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