KBRA Releases Report for City of Atlanta, GA Airport General Revenue Bonds

On July 22, 2024, KBRA assigned a long-term rating of AA+, with a Stable Outlook to the City of Atlanta, GA Airport General Revenue Bonds, Series 2024A-1 (Non-AMT) (Green Bonds), Series 2024A-2 (Non-AMT) and Series 2024B (AMT). Concurrently, KBRA affirmed the AA+, with a Stable Outlook assigned to outstanding Airport General Revenue Bonds and Passenger Facility Charge Subordinate Lien Airport General Revenue Bonds.

General Revenue Bonds (GARBs) are secured by a pledge of net General Revenues, while the Airport Passenger Facility Charge (PFC) and Subordinate Lien Revenue Bonds (Hybrid PFC Bonds) are secured by a senior lien on PFCs and a subordinate lien on net General Revenues. KBRA makes no rating distinction between the GARBs and Hybrid PFC Bonds given the strength of debt service coverage on both liens and the subordinate pledge of airport net revenues available to pay Hybrid PFC debt service, if needed.

To access rating and relevant documents, click here.

Click here to view the report.