Fitch assigns negative outlook to RIAC bonds, citing COVID-19 impact, regional competition

FITCH RATINGS affirmed the R.I. Airport Corp.'s "BBB+" bond rating, but issued a negative outlook due to the impacts of the COVID-19 pandemic on airport traffic at T.F. Green Airport, and the uncertainty of the timeline and magnitude of a recovery. / COURTESY R.I. AIRPORT CORP.
PROVIDENCE – Fitch Ratings affirmed the R.I. Airport Corp.’s “BBB+” bond rating but assigned the quasi-public agency a negative outlook, the ratings firm announced Wednesday. The ratings are on $66.6 million outstanding airport revenue bonds as of June 30, 2020, issued by the R.I. Commerce Corp. The negative outlook was said to reflect the uncertainty…

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