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S&P Credit Research2834 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services has lowered its long-term ratings on Rhode Island Economic Development Corp.'s (EDC) airport revenue bonds outstanding, issued on behalf of the Rhode Island Airport Corp. (RIAC), to 'BBB+' from 'A-'. The outlook is stable. In our opinion, the downgrade reflects an increasing cost structure, continued enplanement declines, and decreasing debt service coverage (DSC), all of which had been projected to stabilize by this time when the corporation issued bonds in May 2008. The rating reflects our assessment of the credit profile of Rhode Island's T.F. Green International Airport, a medium-hub airport that provides low-cost carrier service to a stable service area. More specifically, the rating reflects what we consider to be the following credit concerns:
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| Brief Excerpt: | RESEARCH Ratings Definitions Rhode Island Economic Development Corp. Rhode Island Airport Corp.; Airport Publication date: 03-Nov-2009 Primary Credit Analyst: Adam Torres, New York (1) 212-438-2481; adam_torres@standardandpoors.com...
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| Report Type: | Full Report
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| Issuer: | Rhode Island Econ Dev Corp
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Outlook On Rhode Island Economic Development Corp. Special Facility Revenue Bonds Series 2006 Revised To Negative $100.00
NEW YORK (Standard&Poor's) Nov. 4, 2009--Standard&Poor's Ratings Services has revised its outlook on Rhode Island Economic Development Corp.'s first-lien special facility revenue bonds series 2006, issued on behalf of the Rhode Island Airport ...
- Rhode Island Economic Development Corp. Rhode Island Airport Corp.; Non-recourse proj, single or multi tenants, entert $400.00
Standard&Poor's Ratings Services has revised its outlook on Rhode Island Economic Development Corp.'s first-lien special facility revenue bonds series 2006, issued on behalf of the Rhode Island Airport Corp. (RIAC) to negative from stable. ...
- Summary: Rhode Island Economic Development Corp. Rhode Island Airport Corp.; Non-recourse proj, single or multi tenants, entert $175.00
Standard&Poor's Ratings Services has revised its outlook on Rhode Island Economic Development Corp.'s first-lien special facility revenue bonds series 2006, issued on behalf of the Rhode Island Airport Corp. (RIAC) to negative from stable. ...
- Rhode Island Economic Development Corp. Airport Revenue Bonds Downgraded To 'BBB+' From 'A-' On Higher Cost Structure $100.00
NEW YORK (Standard&Poor's) Nov. 3, 2009--Standard&Poor's Ratings Services has lowered its long-term ratings on Rhode Island Economic Development Corp.'s airport revenue bonds outstanding, issued on behalf of the Rhode Island Airport Corp. (RIAC), ...
- Summary: Rhode Island Economic Development Corp. Rhode Island Airport Corp.; Airport $175.00
Standard&Poor's Ratings Services has lowered its long-term ratings on Rhode Island Economic Development Corp.'s (EDC) airport revenue bonds outstanding, issued on behalf of the Rhode Island Airport Corp. (RIAC), to 'BBB+' from 'A-'. The outlook ...
- Summary: Rhode Island Economic Development Corp.; Non-recourse proj, single or multi tenants, entert $175.00
Standard&Poor's Ratings Services has affirmed its 'BBB+' rating and stable outlook on Rhode Island Economic Development Corp.'s first-lien special facility revenue bonds series 2006, issued on behalf of the Rhode Island Airport Corp. (RIAC). ...
- Rhode Island Economic Development Corp. Rhode Island Airport Corp.; Airport $400.00
Standard&Poor's Ratings Services assigned its 'A-' rating, and stable outlook, to Rhode Island Economic Development Corp.'s (EDC) series 2008A and 2008B airport revenue bonds, issued on behalf of the Rhode Island Airport Corp. (RIAC). At the ...
- Rhode Island Economic Development Corp.'s Airport Bonds Rated 'A-' On Diverse Carrier Mix $100.00
NEW YORK (Standard&Poor's) May 15, 2008--Standard&Poor's Ratings Services assigned its 'A-' rating, and stable outlook, to Rhode Island Economic Development Corp.'s (EDC) $34 million series 2008A and 2008B airport revenue bonds, issued on behalf ...
