Fitch Ratings gave ‘A’ ratings to some $154 million in outstanding debt for Bradley International Airport in Windsor Locks.
Fitch gave ‘As’ to approximately $147 million in outstanding 2011 series A&B general airport revenue refunding bonds, and to some $7 million in outstanding parity 2001 series B general airport revenue bonds.
The rating outlook for both issues is stable, Fitch said.
The debt-rating service singled out Bradley’s diversified air-carrier fleet, led by Delta Air Lines, whose gate fees support the airport’s operating budget. Concession fees and rents also strengthen Bradley’s ability to repay its debts, Fitch said.
Fitch also pointed to Bradley’s relative low cost structure of $8.97 per flying passenger in fiscal 2011.
The airport finished fiscal 2011 with more than $41 million in unrestricted cash and liquidity – enough to fund operations for more than four months.
