Miami International Airport Revenue Bond Rating Lowered To 'A-' On Pandemic's Effects - S&P Global Ratings’ Credit Research

Miami International Airport Revenue Bond Rating Lowered To 'A-' On Pandemic's Effects

Miami International Airport Revenue Bond Rating Lowered To 'A-' On Pandemic's Effects - S&P Global Ratings’ Credit Research
Miami International Airport Revenue Bond Rating Lowered To 'A-' On Pandemic's Effects
Published Sep 17, 2020
2 pages (1209 words) — Published Sep 17, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 17, 2020--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) to 'A-' from 'A' on Miami-Dade County's aviation revenue bonds issued for Miami International Airport (MIA) and removed the rating from CreditWatch, where it had been placed with negative implications on Aug. 7, 2020. The outlook is negative. "The rating action reflects our expectation that activity at MIA will be materially depressed, unpredictable, or demonstrate anemic growth as a result of the COVID-19 pandemic and associated effects outside of management's control," said S&P Global Ratings credit analyst Nora Wittstruck. Our rating action reflects health and safety risks posed by the COVID-19 pandemic and its impact on passenger activity as a result of

  
Brief Excerpt:

...September 17, 2020 NEW YORK (S&P Global Ratings) Sept. 17, 2020--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) to 'A-' from 'A' on Miami-Dade County's aviation revenue bonds issued for Miami International Airport (MIA) and removed the rating from CreditWatch, where it had been placed with negative implications on Aug. 7, 2020. The outlook is negative. "The rating action reflects our expectation that activity at MIA will be materially depressed, unpredictable, or demonstrate anemic growth as a result of the COVID-19 pandemic and associated effects outside of management's control," said S&P Global Ratings credit analyst Nora Wittstruck. Our rating action reflects health and safety risks posed by the COVID-19 pandemic and its impact on passenger activity as a result of mobility restrictions and behavioral changes related to travel, which we view as a social factor within our environmental, social, and governance factors, resulting in significant operating and...

  
Report Type:

Ratings Action

Issuer
Miami Intl Arpt
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Miami International Airport Revenue Bond Rating Lowered To 'A-' On Pandemic's Effects" Sep 17, 2020. Alacra Store. Jan 28, 2022. <http://www.alacrastore.com/s-and-p-credit-research/Miami-International-Airport-Revenue-Bond-Rating-Lowered-To-A-On-Pandemic-s-Effects-2516130>
  
APA:
S&P Global Ratings’ Credit Research. (). Miami International Airport Revenue Bond Rating Lowered To 'A-' On Pandemic's Effects Sep 17, 2020. New York, NY: Alacra Store. Retrieved Jan 28, 2022 from <http://www.alacrastore.com/s-and-p-credit-research/Miami-International-Airport-Revenue-Bond-Rating-Lowered-To-A-On-Pandemic-s-Effects-2516130>
  
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