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Article: S&P Takes N.Y.C. Airport Debt Off Negative Watch.(The Regions)
- Article from:
- The Bond Buyer
- Article date:
- September 28, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ted Phillips
Air travel may be down, but bonds sold to build a cargo facility at a New York City airport managed to pull up in time, according to Standard & Poor's.
The rating agency last week removed from negative watch bonds sold by the New York City Industrial Development Agency in 2001 now that one of its tenants has resumed paying rent.
The IDA sold $152.7 million of tax-exempt and $7.6 million of taxable bonds on behalf of Aero JFK LLC, formerly Airis JFK, to finance the construction of a 434,615-square-foot cargo facility at John F. Kennedy International Airport. About $138 million of bonds are outstanding. In April, Standard & ...