This report does not constitute a rating action. S&P Global Ratings'long-term rating on Charleston Regional Airport District , South Carolina's outstanding airport revenue bonds is'A+'. The outlook is stable. The bonds are secured by a pledge of net revenues. The bonds are also secured by a designated debt service reserve account with Charleston Regional Airport Authority's common debt service reserve fund. Customer facility charges are designated as revenue under the master resolution. The indenture includes a rate covenant of 1.25x and an additional bonds test is also based on 1.25x debt service coverage. Passenger facility charges are deposited into a separate fund and are to be used first for debt service and then, if excess is available, for
