by Ken Quintanilla

Guam - Officials from ratings giant authority Standard & Poor's are on Guam visiting several autonomous agencies. And it's another opportunity in telling the Guam story while strengthening the relationship with the investment community.

Three officials from S&P were given a tour of the Guam International Airport Authority today to show that the airport is capable of a strong rating. GEDA's financial services manager Lester Carlson, Jr. said, "In anticipation of taking advantage of very low market rates, we decided to be proactive and ask S&P to come out and actually visit Guam, see the airport, see its facilities in advance of this refunding approach that we're seriously considering."

The airport is looking at the possibility of refinancing $150 million in bonds that could equate to $50 million for capital improvement projects along with also utilizing lower interest rates to save $2 million in debt service. Carlson says it's a significant savings, but will depend on the rating from S&P.

Acting GEDA administrator Henry Taitano says S&P's visit helps Guam stay engaged with rating agencies and investors, adding, "We've had a lot of different bond activities in the first couple years of the administration and it's just more of continuing to strengthen our relationship with the investment community I think is the general goal."

S&P officials not only were greeted by Governor Eddie Calvo today, but were given an economic review and presentation of the airport's financial portfolio - something Carlson says was positive. He explained, "The airport was very well prepared. We assisted them in the preparation of their presentation, and the reaction from Standard & Poor's was extremely favorable and there were smiles in the room all around," he said.

But the visits don't stop at the airport as S&P officials will also be maximizing their time by visiting both the Guam Power and Waterworks Authorities, the governor's fiscal policy team, stopping by Andersen Air Force Base and Big Navy, and taking a tour of the island. It's an endeavor both say helps share the Guam story while showing the resiliency and improvements the island has made over the years.

"It's great to have people here to travel here to Guam and see it for themselves," Taitano added.