Standard&Poor's Ratings Services assigned its 'A+' rating on San Antonio, Texas airport system revenue improvement and refunding bonds series 2010A and airport system revenue refunding bonds series 2010B. Standard&Poor's also assigned its 'A-' rating on San Antonio's passenger facility charge (PFC) and subordinate-lien airport system revenue improvement and refunding bonds series 2010. At the same time, Standard&Poor's affirmed its 'A+' and 'A-' underlying ratings (SPURs) on the city's general airport revenue parity bonds and PFC and subordinate-lien airport parity bonds, respectively. The ratings reflect our view of this medium-hub, origin and destination airport with moderate airline costs, a diverse carrier mix, and recent enplanement declines but no additional debt plans. The outlook is stable.
