Written by The Business Journal Staff
Fresno Yosemite International Airport has once again earned an improvement to its credit rating.
Fitch Ratings has upgraded the airport’s outstanding revenue bonds from “BBB” to “BBB+” with a stable outlook.
Fitch identified continued passenger growth, the region’s continued economy recovery, population growth and other financial metrics as drivers of the upgrade.
Fitch also made note of the airports capital improvement plan, which include no plans to issue further debt for major construction in the foreseeable future.
“The Fitch Ratings credit upgrade is the result of managing Fresno Yosemite International Airport in a fiscally responsible manner and enhances the Airport’s capability to meet future infrastructure needs,” said Director of Aviation Kevin Meikle.
Fresno Yosemite International Airport’s credit upgrade from Fitch Ratings is the second upgrade received from a leading rating agency this year. In April, Standard and Poor’s Global Ratings (S&P) issued a ‘BBB+’ with a Stable outlook from ‘BBB’. Moody’s Investors Service is expected to issue its credit evaluation in early 2018.