Summary: San Francisco Arpt Comm, CA; Transportation, Airport - S&P Global Ratings’ Credit Research

Summary: San Francisco Arpt Comm, CA; Transportation, Airport

Summary: San Francisco Arpt Comm, CA; Transportation, Airport - S&P Global Ratings’ Credit Research
Summary: San Francisco Arpt Comm, CA; Transportation, Airport
Published Apr 18, 2002
983 words — Published Apr 18, 2002
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Abstract:

The 'BBB+' rating on San Francisco Airport Commission, Calif.'s special facilities lease revenue bonds issued for SFO Fuel Co. reflects an erosion in credit quality among the primary member airlines and pressures that result in higher-than-expected charges recovered from members. Specific credit concerns include: A concentration in and decline in the credit quality of one large user, United Air Lines ('B+'/Watch Neg), which accounted for 40.9% of total jet fuel consumption at the airport in 2001 and 48.3% of enplanements; and The decline in the demand at and the credit quality of San Francisco International Airport. In March 2002 the airport's rating was downgraded to 'A'/Negative from 'A+'. The above factors have exacerbated the following pre-existing credit weaknesses: A weak

  
Brief Excerpt:

RESEARCH Summary: San Francisco Arpt Comm, CA; Transportation, Airport Publication date: 18-Apr-2002 Credit Profile DOWNGRADED, OFF CREDITWATCH To From San Francisco Arpt Comm, California San Francisco Intl Arpt, California $93.355 mil....

  
Report Type:

Summary

Ticker
SFOAPT
Issuer
San Francisco City&Cnty Arpt Comm
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: San Francisco Arpt Comm, CA; Transportation, Airport" Apr 18, 2002. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-San-Francisco-Arpt-Comm-CA-Transportation-Airport-241207>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: San Francisco Arpt Comm, CA; Transportation, Airport Apr 18, 2002. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-San-Francisco-Arpt-Comm-CA-Transportation-Airport-241207>
  
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