Best in show. (Wall Street West).Standard & Poor's assigned an 'AA' rating to a $36 million bond issued for Los Angeles International Airport “LAX” redirects here. For other uses, see LAX (disambiguation). “KLAX” redirects here. For other uses, see KLAX (disambiguation). Los Angeles International Airport (IATA: LAX, ICAO: KLAX, FAA LID: LAX by the City of Los Angeles
Tax-exempt debt issued by a city, county, state, or airport authority with debt service guaranteed either by general revenues generated by the airport or by lease payments for facilities used by a particular airline. . S&P said it based the rating on the airport's strong financial position and continued demand. Kurt Forsgren, one of the two analysts that assigned the rating, noted that the LAX long-term master plan might end up costing as much as $9 billion, but until a plan is worked out in greater detail, he said he did view it as a risk to the airport's credit. "The size and timing and financial structure of the master plan are obviously important," said Forsgren, a director at S&P's San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden office. "But our view is that there is so much uncertainty as to when that will occur, and whether it will actually occur, that we did not consider it a limiting factor in coming up with our rating of AA." |
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