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Fitch Affirms 'A' Long-term Rating with Stable Outlook for St. Louis Lambert International Airport Revenue Bonds
Fitch cited STL’s sound financial profile, solid underlying demand, favorable airline use & lease agreement, modest capital needs.
This article is 3 years old. It was published on August 31, 2022.
(St. Louis - August 31, 2022) Fitch Ratings (Fitch) affirmed its 'A' long-term rating to the City of St. Louis' outstanding Airport Revenue Bonds issued on behalf of St. Louis Lambert International Airport (STL).
“Fitch's cited STL’s sound financial profile, solid underlying demand, favorable airline use & lease agreement, modest capital needs, and conservative debt structure. Of particular note, the report mentions STL’s positive Fitch trend to levels prior to the pandemic. enplanement states, "enplanements increased 80% over the previous year to 6.3 million, approximately 80% of 2019 levels of (7.9 million) and expects a full recovery in 2023”.
Fitch also affirmed its ‘Stable’ outlook. The outlook reflects Fitch confirms St. Louis Lambert International Airport’s strong management, robust financial position and operation,” said STL Airport Director, Rhonda Ham-Niebruegge.
Fitch's Ratings previously affirmed its rating for STL’s bonds at ‘A’ with a stable outlook in September of 2021.
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Comptroller Darlene Green is the chief fiscal officer of the City of St. Louis and is charged with safeguarding the city’s credit rating and with protecting taxpayer dollars. She is the recipient of the 2019 Women in Public Finance Lifetime Achievement award. Visit Fitch-Fitch to learn more about the Office of the Comptroller.
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Contact Information:
Chana Morton
Executive Assistant to the Comptroller -
Department:
Office of the Comptroller
St. Louis Lambert International Airport
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Topic:
Airports
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