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Moody's Investors Service Affirms O'Hare Bond Ratings
The Chicago Department of Aviation (CDA) is pleased to learn that Moody's Investors Service has reaffirmed its A1 rating on the City of Chicago O'Hare International Airport's third lien general airport revenue bonds (GARBs), the A1 rating on the outstanding Second Lien GARBs, the Aa3 rating on the First Lien GARBs and the A2 rating on the outstanding passenger facility charge (PFC) revenue bonds. The rating agency also affirmed its negative outlook on third lien revenue bonds and said its outlook on all other debts remain stable. "We are pleased that Moody's Investors Service has recognized O'Hare's financial strength and its stature as a global transportation center," said CDA Commissioner Rosemarie S. Andolino. "Chicago's geographic location, large population and strong economic base create continuing strong demand for air service at Chicago's airports and we continue to work closely with our airline partners in investing in the infrastructure necessary to support long-term demand at O'Hare." The full release is here. |
