S&P Global Ratings raised its long-term rating and underlying rating (SPUR) on the Greater Orlando Aviation Authority, Fla.'s (GOAA or the authority) senior-lien airport facilities revenue bonds, issued for Orlando International Airport (MCO), to 'AA' from 'AA-', and its rating on the authority's subordinate-lien debt to 'AA-' from 'A+'. The outlook is stable. The upgrade reflects MCO's very high activity levels and long history of favorable enplanement trends supported by serving an expanding service area economy with strong visitor demand; demonstrated financial resiliency during periods of lower air travel demand, and our expectation that GOAA will maintain strong-to-very strong financial metrics considering future capital requirements. GOAA's senior bonds are secured by a pledge of airport system revenues, including available passenger
