Two rating agencies have announced ratings increases on Lambert-St. Louis International Airport debt. Moody’s raised its rating to A3-stable outlook from Baa1 with a stable outlook. Standard & Poor’s raised its rating to A- with a stable outlook from A- with a negative outlook. This is the first time in more than a decade that both Moody’s and Standard & Poor’s ratings for the Airport have both been in the single “A” category.
Earlier this month, Fitch Ratings upgraded outstanding airport revenue bonds to 'BBB+' from 'BBB' with a stable outlook.
These rating improvements will help Lambert maximize its refunding savings when it enters the market next month with a $32 million bond refunding expected to net more than $3 million in savings for Lambert’s signatory air carriers.
The rating agencies attributed the upgrades to strong fiscal management and positive passenger traffic. Just released, passenger enplanements at Lambert Airport jumped 2.5 percent in April versus a year ago. Approximately 522,900 passengers boarded planes versus 509,000 in April 2012. For the first four months of 2013, Lambert is up nearly one percent with total enplanements of 1.95 million versus 1.93 million in the same January through April time frame in 2012.
Total passengers, both arriving and departing, was up 2.1 percent in April versus a year ago. Approximately 1.05 million passengers have traveled through Lambert so far this year versus 1.03 million in 2012 for a year to date increase of one percent.
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Avoid parking fees the next time you pick up a passenger. Lambert provides free waiting zones for motorists near each terminal.