CUSIP 012123JV8

  • ISIN: US012123JV84
  • Entity Name: Albany County Airport Authority
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Rating Upgrade
  • News: S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to `A` from `A-` on Albany County Airport Authority, N.Y.`s debt outstanding. The outlook is stable. The raised rating reflects the application of our updated rating criteria, ""U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises: Methodologies And Assumptions,"" published March 12, 2018 on RatingsDirect. The ratings on the authority reflect our opinion of its strong enterprise risk and financial risk profiles. Our enterprise risk profile assessment reflects Albany International Airport`s (ALB) recent growing enplanement trends that we expect will remain at least stable although it has experienced some weakness during weak economic cycles. Our financial risk profile assessment reflects our opinion that the authority`s coverage metrics will remain strong as the debt burden moderately increases because of fund a portion of the capital improvement plan (CIP) for additional parking capacity. Similarly, although we expect ALB`s debt burden to rise, potentially $12 million depending on grant funding, we expect the airport`s debt and liabilities capacity to remain very strong.
  • Description: *****
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