Fitch gives AAA/F1+ to Metro Washington Airports bonds

Fitch Ratings amended its March 5 press release that announced revised ratings for the Metropolitan Washington Airports Authority's $140.775 million of outstanding airport system revenue variable-rate bonds, series 2003D, consisting of subseries 2003D-1 and subseries 2003D-2.

Both series received long-term ratings of AAA, according to the amended release.

Fitch's assignment on an F1+ short-term rating to both subseries was not changed.

As previously reported, the revision is in connection with the addition of two irrevocable, direct-pay letters of credit supporting the bonds.

The subseries 2003D-1 bonds' rating is based on a letter of credit issued by Wachovia Bank, NA, which is rated AA-/F1+. The subseries 2003D-2 bonds' rating is based on a letter of credit issued by Regions Bank, which is rated A+/F1+.

The original March 5 release said that the subseries 2003D-1 bonds would be rated AA-/F1+ and that the subseries 2003D-2 bonds would be rated A+/F1+.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.