Summary: Austin, Texas; Airport - S&P Global Ratings’ Credit Research

Summary: Austin, Texas; Airport

Summary: Austin, Texas; Airport - S&P Global Ratings’ Credit Research
Summary: Austin, Texas; Airport
Published May 08, 2024
5 pages (1629 words) — Published May 08, 2024
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings' long-term rating on Austin, Texas' airport revenue bonds, issued for Austin-Bergstrom International Airport (AUS), is 'A+'. Our rating on the city's hotel revenue bonds, issued for Austin-Bergstrom Landhost Enterprises Inc. (ABLE), is 'A'. The outlook on all ratings is stable. A first lien on the system's net revenues secures the airport revenue bonds. Bondholders benefit from a cash-funded debt service reserve, which is equal to average annual debt service requirements. The rate covenant requires net revenues and other available funds equal 1.25x prior-lien bond and revenue bond debt service. Net hotel revenues secure the hotel revenue bonds on a first-lien basis. However, pursuant to a grant agreement between the City of Austin and ABLE, surplus airport system

  
Brief Excerpt:

...+ S&P Global Ratings' long-term rating on Austin, Texas' airport revenue bonds, issued for Austin-Bergstrom International Airport (AUS), is 'A+'. + Our rating on the city's hotel revenue bonds, issued for Austin-Bergstrom Landhost Enterprises Inc. (ABLE), is 'A'. + The outlook on all ratings is stable....

  
Report Type:

Summary

Issuer
Sector
Global Issuers, Public Finance
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Austin, Texas; Airport" May 08, 2024. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Austin-Texas-Airport-3167342>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Austin, Texas; Airport May 08, 2024. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Austin-Texas-Airport-3167342>
  
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