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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  • EPenn November 7, 2012 at 11:33 am

    Is this an international problem now?

    On the “upside” as the mayor would say… the Port of Pensacola is turning a profit… just saying… *waiting for port bashers to claim I am off topic, because it no longer fits their aggenda*

  • Haha November 7, 2012 at 11:11 am

    Think of the bloated debt of the airport as the Wiggins/Nobles legacy. Thank you sir may I have another?

  • Baggage fees November 7, 2012 at 11:05 am

    Still waiting for response to the downgrade by airport management….

  • Richard Hawkins November 7, 2012 at 10:52 am

    You already posted this

  • Baggage fees November 7, 2012 at 10:15 am

    This is old news, you already reported this a few months ago.

    • Rick Outzen November 7, 2012 at 10:56 am

      Ok, I must have stumbled upon an old article. I guess we still don’t know if the new logo has made a difference.