The rating on Tulsa Airports Improvement Trust, Okla.'s bonds reflects the following strengths: * The strong travel characteristics as evidenced by the origination and destination nature of the airport, producing stable growth trends in enplaned passengers; * A moderately diverse air carrier base with Southwest Airlines (34% of enplaned passengers), American Airlines (16.9%), TWA (8.7%), and American Eagle (8.7%) representing the four leading carriers; * Good 1.78 times (x) coverage of fiscal 1995 debt service requirements (not inclusive of PFC revenue) and 1.53x coverage of 1996 requirements on an unaudited basis; and * Solid demographic profile for the Tulsa metropolitan statistical area. Trust revenues securing the bonds include gross revenues generated at Tulsa International Airport (TIA) and R.L. Jones Airport,
