Moody's Affirms CLT's Revenue Bond Ratings

Moody’s Investors Service affirmed CLT’s Aa3 rating on airport  enterprise revenue bonds, citing the Airport’s “exceptional financial performance.”  The agency also affirmed CLT’s A3 rating on its car rental facility bonds, calling Charlotte Douglas’ outlook stable.

In a May 30 release, Moody’s attributed the rating to CLT’s maintenance of extraordinary financial operations through a national economic recession, growing enplanement levels and the strength of the local demand for air travel.

“We’re pleased that Moody’s Investors Service has affirmed the Airport’s enterprise revenue and car rental facility bonds,” said Interim Aviation Director Brent Cagle. “It acknowledges the financial strength of Charlotte Douglas and management’s commitment to cost competitiveness while providing value to passengers and business partners.” 

Among CLT’s strengths, Moody’s listed FY2013’s airline cost per enplaned passenger of $1.15 as one of the lowest in the industry in spite of the size of operations; a demand-driven capital improvement plan that keeps down costs to airlines; and the Airport’s solid track record of growth in both total and originating and departing enplanements.

Charlotte Douglas is the nation’s sixth busiest airport and the world’s seventh busiest airport for landings and departures. Last year, CLT served more than 43 million passengers. 

Click here to read the complete release from Moody’s.

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