Burlington Airport’s Bond Rating Downgraded

Print More

A bond rating service says it has downgraded the rating for $37 million in outstanding revenue bonds for Burlington International Airport.

Fitch Ratings assigned a triple-B rating to the bonds, with a negative outlook, citing the airport’s over reliance on passenger facility charges and parking revenue, competition from other airports and heavy reliance on Canadian travelers.

But the rating is still investment grade. Burlington officials say it marks an improvement from the airport bonds’ last rating, by Moody’s Investors Service last October.

Comments are closed.