OREANDA-NEWS. Moody’s Investors Service has assigned an Aa3 rating to Airport refunding revenue bonds, calling CLT’s outlook stable.

Charlotte Douglas refinanced the 2004 General Airport Revenue Bonds due to improved market conditions for a projected savings of more than USD 1 million per year in debt service payment.

In an October 1 release, Moody’s attributed the rating to “the Airport’s maintenance of extraordinary financial operations through a national economic recession, resilient enplanement levels and the strength of the local demand for air travel.” (See release from Moody’s)

“It’s always good news when Moody’s Investors Service affirms trust in the Airport’s financial security,” said Interim Aviation Director Brent Cagle. “We continually strive to provide a quality facility that is an asset to our region and cost competitive within the aviation industry.”  

Among CLT’s strengths, Moody’s listed:
* Fiscal year 2014’s airline cost per enplaned passenger of USD 1.33 as one of the lowest in the industry despite the size of operations
* Demand-driven capital improvement plan that keeps down costs to airlines
* Solid track record of growth in both total and O&D enplanements
* Service area economy that is growing and diversified with limited competition from other airports 

Charlotte Douglas is the nation’s sixth and world’s seventh busiest airport. Last year, CLT served more than 43 million passengers, the largest in its history.