Trending...
- Indie Brand Vow Beauty Enters Walmart
- Ahead of 4th of July, City of St. Louis Reminds Residents of Dangers of Illegal Fireworks Use
- Fathym announces the addition of Sergio Sotolongo to its board of directors
(St. Louis—June 16, 2022) Standard and Poors' Global Ratings (S&P) has revised its credit outlook of St. Louis Lambert International Airport (STL) from stable to positive. The firm also affirmed the airport's long-term rating of 'A-'.
In its summary, S&P states "the outlook revision reflects STL's recent positive enplanement trends, with April 2022 monthly enplanements at 84 percent of April 2019 levels." S&P states that it "could raise the rating within the next two years if we believe the current passenger recovery trend and traffic levels are sustainable."
The credit ratings firm highlighted what they consider the airport's strengths, which include STL's role as the dominant airport in the region, a significant liquidity position, a relatively large and economically healthy service area, and very strong management and governance.
"S&P's latest rating affirms that St. Louis Lambert International Airport is moving in the right direction. The change to a positive outlook points toward continued growth and investor interest," said St. Louis Comptroller Darlene Green.
"I am proud that S&P's summary describes STL's management team as 'experienced, proactive, and effective,'" said STL Airport Director Rhonda Hamm-Niebruegge. "The rating confirms that the airport is on the right business track moving forward."
More on Missouriar
The summary states "STL entered the pandemic operationally and financially strong, with enplanements at their highest level since 2003 (7.9 million in FY2019)." STL, as of June of this year, had approximately $529.1 million of debt outstanding. This debt is fixed-rate, with no variable-rate debt, swaps, or direct-purchase debt outstanding.
Comptroller Darlene Green is the chief fiscal officer of the City of St. Louis and is charged with safeguarding the city's credit rating and with protecting taxpayer dollars. She is the recipient of the 2019 Women in Public Finance Lifetime Achievement award. Visit www.stlouis-mo.gov/comptroller to learn more about the Office of the Comptroller.
St. Louis Lambert International Airport (STL) is the primary commercial airport for the St. Louis metro area and parts of eastern Missouri and southern Illinois serving 15.6 million passengers annually. STL is an Enterprise Fund Department of the City of St. Louis. It is wholly supported by airport user charges. No general fund revenues are used for the operation, administration, promotion or maintenance of airport facilities. For more information, visit www.flystl.com. Follow us on Facebook: @flySTL, Twitter: @flySTL and Instagram: @flySTL
In its summary, S&P states "the outlook revision reflects STL's recent positive enplanement trends, with April 2022 monthly enplanements at 84 percent of April 2019 levels." S&P states that it "could raise the rating within the next two years if we believe the current passenger recovery trend and traffic levels are sustainable."
The credit ratings firm highlighted what they consider the airport's strengths, which include STL's role as the dominant airport in the region, a significant liquidity position, a relatively large and economically healthy service area, and very strong management and governance.
"S&P's latest rating affirms that St. Louis Lambert International Airport is moving in the right direction. The change to a positive outlook points toward continued growth and investor interest," said St. Louis Comptroller Darlene Green.
"I am proud that S&P's summary describes STL's management team as 'experienced, proactive, and effective,'" said STL Airport Director Rhonda Hamm-Niebruegge. "The rating confirms that the airport is on the right business track moving forward."
More on Missouriar
- Springfield: This week's COVID-19 public vaccination opportunities: July 5 - 8
- ENERGIZER HOLDINGS INC. TO WEBCAST A DISCUSSION OF THIRD QUARTER FISCAL 2022 RESULTS ON AUGUST 8
- Columbia: Road closure scheduled on Holly Avenue beginning July 5
- Suit Filed for Passengers and Crew in Amtrak Wreck
- Kansas: Ambassadors help residents stay current on community health information
The summary states "STL entered the pandemic operationally and financially strong, with enplanements at their highest level since 2003 (7.9 million in FY2019)." STL, as of June of this year, had approximately $529.1 million of debt outstanding. This debt is fixed-rate, with no variable-rate debt, swaps, or direct-purchase debt outstanding.
Comptroller Darlene Green is the chief fiscal officer of the City of St. Louis and is charged with safeguarding the city's credit rating and with protecting taxpayer dollars. She is the recipient of the 2019 Women in Public Finance Lifetime Achievement award. Visit www.stlouis-mo.gov/comptroller to learn more about the Office of the Comptroller.
St. Louis Lambert International Airport (STL) is the primary commercial airport for the St. Louis metro area and parts of eastern Missouri and southern Illinois serving 15.6 million passengers annually. STL is an Enterprise Fund Department of the City of St. Louis. It is wholly supported by airport user charges. No general fund revenues are used for the operation, administration, promotion or maintenance of airport facilities. For more information, visit www.flystl.com. Follow us on Facebook: @flySTL, Twitter: @flySTL and Instagram: @flySTL
0 Comments
Latest on Missouriar
- Panera Brands and HUGS End Planned Partnership
- Columbia: Kathy Baker named as City's new human resources director
- Indie Brand Vow Beauty Enters Walmart
- Kansas: New playgrounds lead the list of KC Parks upgrades
- Kansas: City offices closed for Independence Day; trash pickup affected
- Kansas: John Dillingham and Anita Gorman Recognized by City Council
- Veterans United Home Loans Meets Realtor.com® "Closing the Gap Challenge"
- Daugherty Business Solutions A Winner of St. Louis Post-Dispatch's Top Workplaces 2022 Award
- Springfield: City to host informational open house on Kansas Avenue roadway improvements July 14
- James Postrasija, CEO of Order Food Online on Platform Features/Benefits
- Disney Good Neighbor Hotel Lulu is Open for the Summer
- Springfield: City to host informational open house on Kansas Avenue roadway improvements July 14
- Kansas: New playgrounds lead the list of KC Parks upgrades
- EPA's Renewable Fuel Standard Pathways Expand to Include Greasezilla® Advanced Biofuel as RIN-Qualified Feedstock
- Springfield: Expect various lane closures on National Avenue between Sunset and Kearney for roadway striping
- Aspiring To Excellence Continues at Globe Star with CARF Accreditation
- Benson Hill Revises Second Quarter Earnings Release Call Time
- JKS Financial Sponsors Program To Teach High School Students Investment Skills
- Springfield Fire Department wishes you a safe Fourth of July celebration
- Don Barnhart's "Unapologetically Funny" Comedy Tour Keeps Las Vegas Laughing With 50% Discount