The Jacksonville Aviation Authority reported that Fitch Ratings affirmed its A rating for the authority’s revenue bonds.
The authority issued the bonds in 2003 and 2006 to pay for improvements at Jacksonville International Airport.
The rating reflects JIA’s high amount of origination and destination traffic flow, the variety of airlines serving the airport, the authority’s solid financial performance in 2009 and its low-cost system, the authority said. Fitch saw the authority as having a stable outlook.
As of January 1, the authority had outstanding debt of $209.9 million, composed of $47.6 million for Series 2003 refunding bonds, $123.3 million for 2006 revenue bonds, and $38.9 million for 2008 revenue notes. All of the debt is fixed.
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