Summary: Austin, Texas; Airport

S&P Global Ratings revised its outlook on City of Austin, Texas' airport bonds outstanding to positive from stable. At the same time, S&P Global Ratings affirmed its 'A' rating on parity airport revenue bonds outstanding and 'A-' rating on the city's hotel revenue bonds issued for the Austin-Bergstrom Landhost Enterprises Inc. (ABLE). S&P Global Ratings also assigned its 'A' long-term rating to the $22.2 million airport system revenue bonds series 2019A and $330.3 million airport system revenue bonds series 2019B. We analyze the bonds using our "U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises" (TIE) criteria. The outlook revision indicates that we could raise the rating in the next two years if we believe Austin Bergstrom International Airport (AUS) maintains a

...S&P Global Ratings revised its outlook on City of Austin, Texas' airport bonds outstanding to positive from stable. At the same time, S&P Global Ratings affirmed its 'A' rating on parity airport revenue bonds outstanding and 'A-' rating on the city's hotel revenue bonds issued for the Austin-Bergstrom Landhost Enterprises Inc. (ABLE). S&P Global Ratings also assigned its 'A' long-term rating to the $22.2 million airport system revenue bonds series 2019A and $330.3 million airport system revenue bonds series 2019B. We analyze the bonds using our "U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises" (TIE) criteria. The outlook revision indicates that we could raise the rating in the next two years if we believe Austin Bergstrom International Airport (AUS) maintains a strong financial risk profile as it issues additional debt to fund capacity enhancement projects that address rising enplanement levels. We expect clarification regarding the additional debt needs and related...

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