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.
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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).