Portland, Maine - The Portland International Jetport today announced that S&P Global Ratings has raised their credit rating on the Jetport Revenue Bonds to A- from BBB+.
“The S&P upgrade is acknowledgment of our strong financial standing and solid passenger and revenue growth over the past three years” said Paul Bradbury, Airport Director.
“The rating upgrade reflects our expectation that PWM will maintain debt service coverage at levels we consider strong, and debt and liabilities capacity at levels we consider very strong, along with no additional debt needs,” said S&P Global ratings credit analyst Scott Shad.
The upgraded rating agency reports have been posted on the Jetport’s website www.portlandjetport.org
With an annual economic impact of over $1 Billion to the local economy the Portland International Jetport provides non-stop service to 21 destinations on eight airlines. With all three global airline networks represented, passengers can connect to over 2,000 global destinations with just one connection out of PWM. The Jetport has won multiple customer service awards including the 2015, 2017, and 2018 Airport Service Quality Awards.