...September 19, 2024 ENGLEWOOD (S&P Global Ratings) Sept. 19, 2024--S&P Global Ratings assigned its 'A' long-term rating to Metropolitan Knoxville Airport Authority (MKAA), Tenn.'s proposed $70.0 million series 2024A airport revenue bonds and $45.0 million series 2024B airport revenue bonds, issued for McGhee Tyson Airport (TYS). The outlook is stable. "The rating reflects our expectation that MKAA will maintain financial metrics as the airport funds its capital plan, supported by a growing air traffic demand base and prudent management oversight," said S&P Global Ratings credit analyst Kenneth Biddison. "We believe the airport's small but generally stable passenger base, which has rebounded above pre-pandemic levels, as well as its increasing population and service routes, support a strong financial risk profile. Recent enplanements are trending favorably, with fiscal 2024 enplanements of 1.4 million representing approximately 127% of 2019 pre-pandemic levels, and are projected to grow materially...
