NEW YORK (Standard&Poor's CreditWire) Oct. 29, 1999—Standard&Poor's today assigned its single-'A' rating to Tulsa Airports Improvement Trust, Okla.'s $10.14 million taxable general revenue bonds series 1999C, $14.42 million general revenue bonds(AMT) series 1999B, and $8.06 million general revenue bonds (non-AMT) series 1999a, all for Tulsa International Airport. The outlook is stable. The bonds are secured by a senior gross revenue pledge. The rating reflects the following strengths: --The strong origination and destination (O&D) nature of the airport at around 95%; --A moderately diverse air carrier base with Southwest Airlines (32.2%), American/American Eagle (23.9%), and Delta (10.6%), --Solid financial performance evidenced by 1.66 times (x) annual debt service coverage in fiscal 1999; --Moderate cost per enplaned passenger
