Pensacola airport bonds downgraded

November 7, 2012

Fitch Ratings has downgraded the City of Pensacola’s 2008 Airport Capital Improvement Revenue Bonds (about $35.2 million outstanding) from to ‘BBB’ from ‘BBB+,’ according to Reuters. The rating outlook remains negative.

The Pensacola International Airport’s debt burden and net cash flow are out a whack (my technical analysis). Traffic levels are stagnant. And the airport is dependent on fund balance transfers. It has a tight liquidity position.

Read more. No mention about the upside of the new logo.

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