Fitch Rates Jacksonville Airport Bonds

Fitch Ratings affirmed its A rating on the Jacksonville (Fla.) Aviation Authority's outstanding $171 million of series 2003 and series 2006 airport revenue bonds for Jacksonville International. The rating outlook is stable.

The rating reflects the airport's status as the primary airport for a large air trade service area that currently supports nearly 2.8 million enplanements; service by a diverse group of carriers with no one carrier currently representing more than 27 percent of the market; the airport's supportive hybrid use and lease agreement which is commercial compensatory in the terminal and residual on the airfield; the airport's solid balance sheet; the airport's annual debt service requirements that are largely flat for the next seven years at about $17.5 million; and the airport's manageable capital program through fiscal 2016 that totals $148.1 million.



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