NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has issued a special report titled “A Case for Airports”. The Report reviews the current state of play of U.S. publicly-owned airport ratings. KBRA’s main conclusion is that this sector is underrated based upon a record of no defaults, and the crucial role of airport management to credit quality, which KBRA believes has been under-emphasized by others.
KBRA reviewed airport sector ratings from S&P and Moody’s. While airlines have had a history of bankruptcies and consolidations, which has presented challenges for airports, KBRA finds no incidence of default among U.S. publicly-owned airports. KBRA believes that ratings assigned to airports are somewhat depressed by their connection with servicing airlines. However, in KBRA’s opinion, airports have weathered idiosyncratic shocks over a long period of time, and management has successfully navigated through a succession of turbulent periods.
To view the report, please click here.
Follow us on Twitter!
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
