Credit outlook improves for Maine’s largest airport
PORTLAND, Maine (AP) — The credit rating of Maine’s largest airport is going up a notch.
The Portland International Jetport says S&P Global Ratings has improved the credit rating on Jetport Revenue Bonds from BBB+ to A-. Both scores indicate investment grade bonds, but A- is one step closer to S&P’s top rating of AAA.
Airport director Paul Bradbury says the upgrade is evidence of the facility’s solid financial standing. He says passenger and revenue growth over the past three years have contributed to the improved outlook.
S&P ratings credit analyst Scott Shad says the upgrade reflects an expectation that the airport will continue to ably manage its debts.