TribLIVE

| News


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Ratings upgraded for majority of Allegheny County Airport Authority's bonds due to gas drilling leases on airport property

Daily Photo Galleries

Monday, July 22, 2013, 5:24 p.m.
 

Fitch Ratings upgraded its rating Monday for the majority of the Allegheny County Airport Authority's bonds from “BBB-plus” to an “A-minus” in response to the income from gas drilling leases on airport property.

The rating puts the authority's $354.6 million worth of bonds at the lower end of the agency's third-highest rating, with a “stable outlook” meaning the rating was unlikely to move up or down in the next one or two years.

When upgrading the rating, the agency cited Pittsburgh International Airport's stable passenger base, the lack of competition within 100 miles, and additional income from a $46.3 million deal with Consol Energy to drill for gas on airport land.

 

 
 


Show commenting policy

Most-Read Stories

  1. Fed speculation fuels stock gains; Dow rises 100 points
  2. Roethlisberger hurting after hit to chest by Ravens’ Upshaw
  3. Worker at Mt. Lebanon church injured in fall
  4. Steelers notebook: RT Gilbert not in danger of losing his job
  5. Wednesday’s scouting report: Red Sox at Pirates
  6. Minnesota governor: Peterson should be suspended
  7. Pittsburgh event uses humor to get the word out on stroke prevention
  8. Southmoreland student injured in school assault
  9. Police: Barracks ambush suspect sought mass murder
  10. Penguins notebook: Martin not concerned about expiring contract
  11. Fleeting availability of pumpkin ramps up excitement for fall flavors
Subscribe today! Click here for our subscription offers.