Summary: Miami-Dade County   Miami International Airport; Airport - S&P Global Ratings’ Credit Research

Summary: Miami-Dade County Miami International Airport; Airport

Summary: Miami-Dade County   Miami International Airport; Airport - S&P Global Ratings’ Credit Research
Summary: Miami-Dade County Miami International Airport; Airport
Published Nov 17, 2020
Published Nov 17, 2020
Price US$ 225.00  |  Buy this Report Now

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Abstract:

S&P Global Ratings assigned its 'A-' long-term rating to Miami-Dade County's approximately $290.2 million series 2020A aviation revenue refunding bonds (non-AMT) and approximately $122.5 million taxable series 2020B aviation revenue refunding bonds issued for Miami International Airport (MIA). The outlook is negative. Securing debt service on the bonds is net revenue of the county's port authority properties, which substantially consist of MIA, three general aviation airports, and one training airport. MIA generates the majority of net revenue. Proceeds from the transaction will refund bonds outstanding to lower overall debt service requirements with estimated savings of about 16.8% of the refunded par amount. Although the refunding structure condenses savings into fiscal years 2021 and 2022, no dissavings occur in any year

  
Report Type:

Summary

Issuer
Miami Intl Arpt
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Miami-Dade County Miami International Airport; Airport" Nov 17, 2020. Alacra Store. Jan 28, 2022. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Miami-Dade-County-Miami-International-Airport-Airport-2556163>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Miami-Dade County Miami International Airport; Airport Nov 17, 2020. New York, NY: Alacra Store. Retrieved Jan 28, 2022 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Miami-Dade-County-Miami-International-Airport-Airport-2556163>
  
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