Business Excellence Awards
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NEW YORK – Fitch Ratings last week affirmed its AA rating of the Massachusetts Port Authority’s $1.16 billion revenue bonds and its A+ rating of the authority’s $127.4 million passenger facility charge revenue bonds. Fitch said the rating outlook is stable for all of the authority’s debt.
In a news release, Fitch cited “strong economic underpinnings” and a “healthy demand for the authority’s transportation and commerce-related business lines” as the primary drivers behind the ratings. The authority saw 14.6 million plane passengers in 2012 despite regional competition from T.F. Green Airport in Warwick and Manchester Airport in New Hampshire.
Fitch also said the authority’s service coverage, leverage and liquidity metrics are strong relative to its peers. •