S&P Global Ratings Raises Airport Authority’s Rating to “A”; Rating outlook remains stable
Tuesday, May 22, 2018
MEMPHIS, Tenn. (May 22, 2018) – S&P Global Ratings has raised its long term and underlying rating for Memphis-Shelby County Airport Authority (MSCAA) from “A-” to “A.” The Airport Authority’s outlook is stable.
S&P cited several strengths that contributed to the elevated rating, including Memphis International Airport's (MEM’s) origin and destination passenger base, management and governance, debt and liabilities capacity, financial flexibility, and the presence of FedEx’s massive cargo operations.
“Our finance staff continues to work diligently to maintain the Airport Authority’s solid financial foundation,” said Scott Brockman, MSCAA President and CEO. “This rating reflects our strong current financial management and a positive outlook as we work to shape the future of MEM.”