SAN FRANCISCO (Standard&Poor's CreditWire) June 23, 2000--Standard&Poor's today assigned its single-'A' underlying rating (SPUR) to Albuquerque, N.M.'s $40 million taxable subordinate-lien, variable-rate airport revenue bonds series 2000B and $7.2 million tax-exempt subordinate-lien, variable-rate airport revenue bonds series 2000A, both issued for the Albuquerque International Airport. The outlook is stable. The bonds are rated triple-'A'/`A-1'-plus based on insurance and a standby bond purchase agreement provided by Morgan Guaranty Trust Co. The single-'A' (SPUR) reflects the subordinate lien on airport net revenues and the following unenhanced credit strengths: -- Albuquerque International Sunport's dominant market position in the state, resulting in a high origination and destination (O&D) level of 91% at the facility; -- Total enplaned passenger levels forecast
