S&P Global Ratings has assigned its 'AA-' rating to Greater Orlando Aviation Authority (GOAA), Fla.'s pro forma $86 million series 2016A (AMT) airport facilities revenue bonds, $107 million series 2016B (non-AMT) airport facilities revenue bonds, and $78 million series 2016C airport facilities taxable refunding revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA-' rating on GOAA's (senior-lien) airport facilities revenue bonds and 'A+' rating on GOAA's priority subordinated airport facilities revenue bonds. The outlook is stable. In our opinion, key credit strengths include the following: A large origin and destination (O&D) base (about 95% of the airport's total); An expanding service area that has a very strong tourist industry, which several major theme parks anchor; Retention of
