ENGLEWOOD (S&P Global Ratings) May 13, 2025--S&P Global Ratings assigned its 'AA/A-1' dual rating and 'A-' underlying rating (SPUR) to Metropolitan Knoxville Airport Authority's (MKAA), Tenn.'s proposed $38.8 million series 2025 subordinate airport revenue bonds, issued for McGhee Tyson Airport (TYS). S&P Global Ratings also affirmed its 'A' long-term rating and SPUR on MKAA's airport revenue bonds outstanding, issued for TYS. The outlook is stable. The bonds are secured by net revenues of the authority, in addition to transfer amounts and customer facility charge revenues pursuant to the master resolution. The master resolution also contains a 1.25x rate covenant on debt service due each year and a 1.0x rate covenant for all debt service; amounts to be deposited into the
