S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A' ratings on St. Louis Regional Airport Authority, Mo.'s general obligation (GO) airport bonds and GO debt certificates. The outlook revision reflects our view of the authority's recent strong operational performance and improved reserves. Debt service on the GO bonds is payable from unlimited ad valorem property taxes. The debt certificates are general obligations of the authority, payable from legally available funds without a dedicated debt-service levy. We rate this non ad valorem debt at the same level as the GO bonds because of our view of the availability of the authority's resources and the authority's ability to manage those resources, which supports our view of its
