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S&P Global Ratings affirms A-credit rating for Ontario International Airport Authority.

M2 EQUITYBITES-May 3, 2019-S&P Global Ratings affirms A-credit rating for Ontario International Airport Authority

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Ontario International Airport has announced S&P Global Ratings has revised its outlook of the airport authority to positive from stable and affirmed its long-term rating of A- for the Inland Empire airport's revenue bonds, the company said.

The enterprise risk profile reflects S&P Global Ratings analysts assessment of Ontario International Airport's market position, generally stable enplanements and very strong economic fundamentals in the Inland Empire, low industry risk compared to other sectors and strong management and governance.

The S&P Global Ratings report noted ONT's successful transition to local control in 2016 in its rationale for the stronger financial rating.

S&P Global Ratings is a leading provider of credit ratings with more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities.

Ontario International Airport (ONT), located in the Inland Empire, ONT is approximately 35 miles east of downtown Los Angeles in the center of Southern California. It is a full-service airport with nonstop commercial jet service to 21 major airports in the US, Mexico and Taiwan, and connecting service to many domestic and international destinations. There is an average of 67 daily departures offered by nine air carriers.

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Publication:M2 EquityBites (EQB)
Date:May 3, 2019
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