Monday, March 20, 2006
'A' Rating Affirmed for Ohio Regional Airports
Fitch Ratings has affirms the 'A' rating for Columbus Regional Airport Authority, Ohio's $112.6 million of outstanding airport revenue bonds. The Rating Outlook is Stable. The bonds are secured by the net revenues generated by the operations of Port Columbus International Airport and Bolton Field.
The 'A' rating and Stable Outlook reflect the airport's strong service area and resultant demand for air service, recovery in passenger traffic following the reduction of service provided by America West Airlines in 2003, consistently sound financial operations, a modest capital improvement program and minimal borrowing needs in the immediate future, Fitch said.
The authority operates Port Columbus International Airport, which serves as the primary commercial airport for central Ohio; Bolton Field, a general aviation facility; and Rickenbacker International Airport (Rickenbacker), which the authority absorbed through a 2003 merger with the Rickenbacker Port Authority and operates primarily as an all-cargo airport.
>>Contact: Peter Stettler, Fitch Ratings, (312) 368-3176.<<

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