Credit rating agency S & P Global Ratings has raised Bradley International Airport’s rating from A to A+, with a stable outlook, on the airport’s roughly $78.7 million outstanding bonds.
“This credit rating upgrade reflects Standard & Poor’s assessment of Bradley’s importance to our region and its anticipated continued success,” said state Treasurer Shawn Wooden, who is a member of the Connecticut Airport Authority’s Board of Directors.
S & P Global said it based its decision on the airport’s strong market position with “an overall good baseline level of demand,” including its destinations, carrier diversity with recently added routes and proximity to large population centers, along with its strong financial risk profile, low debt burden, and expectation that coverage, debt capacity and liquidity will be maintained.
Also, the rating agency cited strong management and governance, with a track record of financial and capital planning practices.
Bradley recently added routes, including Spirit Airline’s announcement of nonstop service from Bradley to Jamaica.
