Charleston International Airport, SC Revenue Bond Rating Lowered To ?A? From ?A+? On Severe Drop In Demand From COVID-19

CENTENNIAL (S&P Global Ratings) Oct. 6, 2020--S&P Global Ratings lowered its long-term rating to 'A' from 'A+' on Charleston County Airport District, S.C.'s airport revenue bonds, issued for the Charleston International Airport, and removed the rating from CreditWatch, where it had been placed on Aug. 7, 2020, with negative implications. The outlook is negative. CHS, along with many other U.S. airports, was previously placed on CreditWatch to reflect the considerable negative impact of the COVID-19 pandemic on traffic levels, expected financial performance metrics, and overall credit quality. (For more information, see "U.S. Airport Ratings Placed On CreditWatch Negative On Severe Passenger Declines And Weakening Credit Metrics," published Aug. 7, 2020, on RatingsDirect.) "The downgrade and negative outlook reflects our expectation

...October 6, 2020 CENTENNIAL (S&P Global Ratings) Oct. 6, 2020--S&P Global Ratings lowered its long-term rating to 'A' from 'A+' on Charleston County Airport District, S.C.'s airport revenue bonds, issued for the Charleston International Airport, and removed the rating from CreditWatch, where it had been placed on Aug. 7, 2020, with negative implications. The outlook is negative. CHS, along with many other U.S. airports, was previously placed on CreditWatch to reflect the considerable negative impact of the COVID-19 pandemic on traffic levels, expected financial performance metrics, and overall credit quality. (For more information, see "U.S. Airport Ratings Placed On CreditWatch Negative On Severe Passenger Declines And Weakening Credit Metrics," published Aug. 7, 2020, on RatingsDirect.) "The downgrade and negative outlook reflects our expectation that activity levels at CHS will be considerably depressed, unpredictable or demonstrate anemic growth due to the COVID-19 pandemic and associated...

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