Standard and Poor’s Ratings Services has affirmed its AA rating on Phoenix Sky Harbor International’s (PHX) outstanding senior-lien bonds. It also affirmed its A+ ratings on the airport’s outstanding junior-lien revenue bonds.
The international ratings organization noted that the airport’s solid financial performance, as shown by the maintenance of a low-cost, low-debt facility; solid, predominately origination and destination market, at 57%, and the primary airport in the state; an administrative team that employs prudent and conservative financial and debt-management practices; and the integration of airport and city decision-making.
“I would like to thank Phoenix Airport Director Danny Murphy and Phoenix Finance Director Jeff Dewitt, as well as our private business partners,” says Phoenix City Manager David Cavazos. “Thanks to their leadership and teamwork, Phoenix Sky Harbor International Airport continues to be recognized worldwide for its excellent financial management.”
