Metro Washington Airports Authority Revenue Bonds Rated #AA-#

Stocks and Financial Services Press Releases Tuesday May 22, 2018 09:46
BOSTON--22 May--S&P Global Ratings

BOSTON (S&P Global Ratings) May 21, 2018--S&P Global Ratings assigned its 'AA-' long-term rating to Metropolitan Washington Airports Authority (MWAA), D.C.'s $612 million series 2018 AMT airport system revenue and revenue refunding bonds using its U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises criteria. At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the MWAA's existing bonds with total short and long-term debt outstanding of $4.7 billion. The outlook is stable.

We also affirmed our ratings on the authority's various variable-rate bonds secured by letters of credit (LOCs) that benefit from the application of our joint support criteria, which incorporates both the LOC bank provider rating and our underlying rating on the authority, assuming low correlation.

"The ratings on MWAA reflects our opinion of the airport system's extremely strong enterprise risk profile and strong financial risk profile," said S&P Global Ratings analyst Kurt Forsgren.

MWAA is expected to use series 2018A bond proceeds to finance a portion ($199.5 million) of the costs to complete various airport capital improvement projects, refund $159.6 million in series 2008A bonds and $254.2 million in series 2009C bonds, plus fund capitalized interest and a debt service reserve deposits.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at for further information. Complete ratings information is available to subscribers of RatingsDirect at All ratings affected by this rating action can be found on S&P Global Ratings' public website at Use the Ratings search box located in the left column.

Latest Press Release

WICE establishes a joint-venture, EUROASIA TOTAL LOGISTICS, with its holding 40% of shares to provide cross-border transport services between China, Hong Kong

WICE establishes a joint-venture, "EUROASIA TOTAL LOGISTICS", with its holding 40% of shares to provide cross-border transport services between China, Hong Kong, and South East Asia with the expectation to achieve the first year's revenue at 200 million...

Photo Release: Krungsri Asset Management wins Best Asset Fund Manager 2018 from Alpha Southeast Asia

Miss Siriporn Sinacharoen, Managing Director, Krungsri Asset Management Company Limited received the Best Asset & Fund Manager Award 2018 from Alpha Southeast Asia magazine at a presentation ceremony on 18 September 2018. Behind-success factors...

Bangkok Bank Public Company Limited Offshore Offering and Issuance of US$1.2 Billion Senior Unsecured Notes under its US$3,000,000,000 Global Medium Term Note Program

Bangkok Bank Public Company Limited (the Bank), acting through its Hong Kong Branch, has offered and issued the following 2 tranches of US$1.2 billion senior and unsecured notes (the Notes) under its US$3,000,000,000 Global Medium Term Note Program to...

KBank-Visa to pilot blockchain based B2B payments

Kasikornbank is the first Thai bank in the pilot designed to simplify the cross-border payments, making it more transparent Visa today announced Kasikornbank is the first Thai financial institution to join the Visa B2B Connect pilot program. Visa B2B...

Photo Release: KBank offers financial facility to a leading plastic packaging company

At KBank Head Office, Mr. Thawee Teerasoontornwong (5th from right), KBank Executive Vice President, Mr. Wiwatana Panithansirikul (5th from left), Chief Executive Officer, and Ms. Suporn Panithansirikul (4th from left), Executive Director of S.P. PetPack...

Related Topics