S&P Global Ratings' long-term rating and underlying rating (SPUR) on Broward County, Fla.'s airport system revenue bonds, issued for Fort Lauderdale-Hollywood International Airport (FLL), is 'A+'. The outlook is stable. Net revenue of Broward County Aviation Department's (BCAD) airport system secures the bonds. The airport system consists of FLL and the North Perry Airport, a general aviation reliever airport, which Broward County owns and BCAD operates. FLL passenger facility charge revenue and grant funds are also pledged to pay debt service on some of the airport system revenue bonds. BCAD has approximately $2.2 billion in principal debt outstanding (airport system). The rating reflects FLL's role as an important service provider within the region, which has supported stable financial performance and
