Moody’s revises outlook on Birmingham Airport Authority
Birmingham, Al – During recent rating action, The Birmingham Airport Authority received an upgrade to their revenue bonds outlook from Moody’s Investors Service. The upgrade revised outstanding revenue bonds outlook from negative to stable and affirmed an A3 rating for the Authority.
According to a recent rating update provided by Moody’s Investors Service, “The A3 rating takes into consideration the airport’s competitive position in central Alabama, the stable origin and destination (O&D) passenger base, and sufficient liquidity levels.”
“The upgraded rating shows that management has been successful in controlling cost and developing a strategic plan to increase enplanements. The completion of the terminal modernization on time and on budget allows for envisioned future growth,” said Sylvester Lavender, Birmingham Airport Authority Director of Finance.
Established in 1986, the Birmingham Airport Authority was charged with the growth and economic development of the Birmingham-Shuttlesworth International Airport (BHM). BHM was honored to serve over 2.6 million passengers in 2015 with over 100 daily flights to over 20 city destinations nationwide with international access.
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