Jacksonville Business Journal
by Michael Clinton, Web Producer
Tuesday, April 3, 2012
Jacksonville Aviation Authority has received an ‘A’ rating from Fitch Ratings Fitch Ratings for its $157 million of series 2003 and series 2006 airport revenue bonds for the Jacksonville International Airport.
“We’re very pleased that Fitch has affirmed our ‘A’ rating,” said Richard Rossi, JAA’s CFO. “The affirmation of our credit rating is a reflection of JAA’s operations and our emphasis on controlling costs in the current economic environment.”
Fitch’s report said JAA received the rating because of its flat-to-decreasing debt service profile, moderate cost recovery framework, midsized origination/destination enplanement base, modest capital program and manageable leverage and adequate liquidity, according to a news release.