MOODY’s revises JFKIAT Terminal 4 at jFK International Airport outlook upward and assigns Baa1 bonds to the terminal.
Good news for the airline industry as Moody’s sees continued growth.
New York Transportation Develop. Corp., NY — Moody’s revises outlook to stable and assigns Baa1 to JFK International Air Terminal, LLC’s $1.35 billion Special Facility Revenue Bonds, Series 2022.
The Baa1 rating reflects JFK IAT’s proven resiliency through the recent pandemic owing to its strong Anchor Tenant Agreement (ATA) with Delta that effectively fixes Delta’s payments, protecting JFK IAT from variations in Delta’s enplanements, and providing a floor for performance, as well as management’s actions to save costs and preserve liquidity while maintaining its employee base