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Article: Fort Wayne-Allen County Airport Authority Revenue Bonds Rated A- by S&P.
- Article from:
- PR Newswire
- Article date:
- October 6, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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NEW YORK, Oct. 6 /PRNewswire/ -- Standard & Poor's today assigned its single-'A'-minus rating to Fort Wayne-Allen County Airport Authority, Ind.'s airport improvement revenue bonds series 1998.
In addition, Standard & Poor's affirmed its single-'A'-minus rating on the authority's outstanding bonds series 1995.
The rating on Fort Wayne-Allen County Airport Authority's revenue bonds series 1998 reflects:
-- Stagnant enplanement growth;
-- Decreased debt service coverage due to increasing debt service; and
-- Loss of second largest passenger carrier, responsible for 17% of 1997
enplanements.