Summary: Greater Orlando Aviation Authority, Florida; Airport

S&P Global Ratings lowered its rating to 'A+' from 'AA-' on the Greater Orlando Aviation Authority (GOAA or the authority), Fla.'s senior-lien airport facilities revenue bonds issued for the Orlando International Airport (MCO), and lowered to 'A' from 'A+' the rating on the airport's subordinate-lien debt. At the same time, S&P Global Ratings removed the ratings from CreditWatch, where they had been placed with negative implications Aug. 7, 2020. The outlook is negative. GOAA, along with many other U.S. airport ratings, was placed on CreditWatch to reflect the material negative impact of the COVID-19 pandemic on traffic levels, expected financial performance metrics, and overall credit quality. For more information, see "U.S. Airport Ratings Placed On CreditWatch Negative On Severe Passenger

...S&P Global Ratings lowered its rating to 'A+' from '##-' on the Greater Orlando Aviation Authority (GOAA or the authority), Fla.'s senior-lien airport facilities revenue bonds issued for the Orlando International Airport (MCO), and lowered to 'A' from 'A+' the rating on the airport's subordinate-lien debt. At the same time, S&P Global Ratings removed the ratings from CreditWatch, where they had been placed with negative implications Aug. 7, 2020. The outlook is negative. GOAA, along with many other U.S. airport ratings, was placed on CreditWatch to reflect the material negative impact of the COVID-19 pandemic on traffic levels, expected financial performance metrics, and overall credit quality. For more information, see "U.S. Airport Ratings Placed On CreditWatch Negative On Severe Passenger Declines And Weakening Credit Metrics," published Aug. 7, 2020, on RatingsDirect. S&P Global Ratings applied its updated criteria, "Global Not-For-Profit Transportation Infrastructure Enterprises: Methodologies...

Summary