US airport bond issues to rise as AIP grants reduce
Credit ratings agency Fitch says it expects US airports to increase their use of bonds for financing as challenges are arising to improve funding levels of the federal Airport Improvement Programme (AIP). With AIP grants likely to remain flat over the coming years, US airports will turn to issuing bonds from cash flows earned by passenger facility charges (PFC), along with other airport-generated revenues. [2585 words]
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This report contains the following subheadings:
- Small airports with fewer carriers to lose out
- 2009 surge in airport bonds after tax relief introduced
- USD5.4bn airport bonds sold in one year
- Private capital option reached its zenith then faltered
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