S&P awards GIAA 'BBB with Stable Outlook'

by Sabrina Salas Matanane

Guam - The A.B. Won Pat International Airport Authority has received a 'BBB with A Stable Outlook' from Standard & Poors. The rating was affirmed over the weekend reflecting S&P's view of the airport's continued adequate financial performance and a strong business position service Guam.  The ratings giant attributed the airport's key credit strengths to its history of relatively stable financial performance even despite volatile factors resulting in lower passenger volumes and economic downturns and debt service coverage levels.  

Airport Executive Manager Chuck Ada says the announcement ensures the airport is positioned to take advantage of any opportunities that may reduce interest rates for future financing or realize potential savings opportunities from refinancing a 2003 bond issuance.