Atlanta’s Airport Receives Bond Ratings Upgrade

Hartsfield-Jackson Atlanta International Airport’s Chief Financial Officer and Deputy General Manager, Roosevelt Council, says upping those bond ratings, which represent the corporation’s bond credit quality, will save the airport millions of dollars in borrowing costs. He says that the cost savings will help Hartsfield-Jackson pay for current and future projects. 

“Projects like our terminal modernization, which we are actually in the throws of right now, as well as some future projects, like we’re expecting to expand our parking decks. And we would have to go out to market for those bonds,” says Council.

Council says those projects are why the bond ratings boost from A to an A+ is so important. Bond ratings are based on the degree of risk associated with timely payment of their interest and principal.

“It’s almost like credit when you go to buy a car,” says Council. “That’s when people look at your credit, and if your credit is actually good you can get a lower interest rate, which means we have to pay less.”

Fitch Ratings says a strong revenue stream from the airport’s passenger facility charge, the $4.50 fee that all Hartsfield-Jackson passengers pay, is one of reasons for the upgrade.

Council says upping its bond ratings will the save the airport millions of dollars in borrowing costs.