Aerostar Airport Holdings LLC is proposing to issue $196 million of senior-lien revenue bonds due 2048 to fund the construction of a new multilevel car rental and parking expansion project, as well as other eligible airport capital projects. S&P Global Ratings assigned a preliminary'BBB+'rating to the proposed senior debt which will be issued by the Public Finance Authority, and affirmed the ‘BBB+’ ratings on the project’s 2022, 2015, and 2013 senior notes. The rating reflects the project’s strong revenue growth and solid financial buffer, supported by sustained increases in passenger volumes and stable aeronautical revenues. Although the expansion-related construction introduces some additional risk, parking-related activities are ancillary to core airport operations, and existing cash flows, excluding incremental parking
