Monday, March 25, 2013
Aviation News Today
Moody's Investors Service has affirmed the A2 rating on Jacksonville Aviation Authority's (JAA) $52.88 million revenue bonds Series 2006 (AMT). The outlook is stable. JAA operates Jacksonville International Airport, as well as three general aviation facilities.
Moody's said the rating incorporates JAA's low debt burden, the airport's strong competitive position, and broad diversification of airlines serving the airport. The stable outlook is based on the airport's newly extended use and lease agreement and accelerated retirement of debt, both of which have mitigated significant enplanement declines over the past five years. The stable outlook also reflects Moody's view that the current financial strength of the authority can weather short term negative trends in the local economy, said the ratings firm.