City Of St. Louis: S&P Global Ratings Revises STL Credit Rating To Positive

St. Louis MO

17 June, 2022

1:49 PM

Description

Press release from the City of St. Louis: June 16, 2022 Airport's management and governance sited as a key credit strength Standard and Poors') Global Ratings released a report, which revised its credit outlook of St. Louis Lambert International Airport (STL) from stable to positive. The credit rating firm also affirmed the airport's long-term rating of 'A-'. S&P Global states in its summary, "The outlook revision reflects STL's recent positive P trends, with April 2022 monthly enplanement at 84 percent of April 2019 levels." S&enplanements goes on to say, "We 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. They include: "I am proud that S&P 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. This press release was produced by the City of St. Louis. The views expressed here are the author's own.