Clark County, NV – Harry Reid International Airport Rating Report
Rating Summary
The ratings continue to reflect the resiliency of Harry Reid International Airport’s (LAS’ or the Airport’s) gaming and entertainment-centric service area, which generates strong origin and destination (O&D) traffic and faces limited competition; favorable financial performance; and limited additional borrowing planned over the 5-year capital improvement plan (CIP) horizon. Offsetting these strengths are the Airport’s significant, albeit declining, level of debt; exposure to interest rate and market risk through a still considerable level of outstanding variable rate debt and associated swaps; and the vulnerability of leisure travel to economic cyclicality. Clark County’s (the County’s) on-going economic diversification efforts were also considered.
Proceeds of the Series 2026A Bonds, together with other legally available funds of the County, will be used to refund all of the outstanding Airport System Revenue Bonds Senior Series 2015A. Proceeds of the 2026B Bonds…
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