THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Vermont airport's bond rating downgraded

March 24, 2011

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Your article has been sent.

Text size +

SOUTH BURLINGTON, Vt.—A bond rating service says it has downgraded the rating for $37 million in outstanding revenue bonds for Burlington (Vt.) International Airport.

Fitch Ratings assigned a BBB rating to the bonds, with a negative outlook, citing the airport's over reliance on passenger facility charges and parking revenue, competition from other airports and heavy reliance on Canadian travelers. 

The rating is still investment grade. City of Burlington officials say it marks an improvement from the airport bonds' last rating, by Moody's Investors Service last October.