...S&P Global Ratings assigned its '##-' long-term rating to the Greater Orlando Aviation Authority (GOAA or the authority), Fla.'s series 2019A airport facilities revenue bonds. At the same time, S&P Global Ratings affirmed its '##-' rating on GOAA's airport facilities revenue bonds outstanding, and its 'A+' rating on the authority's subordinate airport facilities revenue bonds outstanding. The outlook is stable. The proposed series 2019A bond proceeds will be used to finance a portion of the costs of phases 1 and 1X of Orlando International Airport's (MCO or the airport) south terminal complex (STC) project and other capital improvements; make a deposit to a composite debt service reserve account; fund capitalized interest on a portion of the 2019 bonds; repay certain draws on GOAA's lines of credit, along with associated accrued interest related to the capital improvements being financed by the 2019 bonds; and pay certain costs of issuance. The ratings reflect our opinion of GOAA's very...
