WARWICK — Standard & Poor’s Global Ratings has raised the bond rating for the Rhode Island Airport Corporation two notches, from BBB+ to A, the corporation announced Tuesday.
In a statement dated Dec. 20, the rating agency also said that the airport corporation’s rating outlook is stable, saying that it does not expect to raise the rating in the next two years and that it would only lower the rating if the amount of money the airport has to pay its debts “falls substantially.”
The rating agency noted that business at T.F. Green Airport’s consolidated rental car facility is strong, that the facility enjoys a strategic location and that the forecast of demand for rental cars is stable.
“Over the last four years, our economy has grown by leaps and bounds, and we’ve transformed T.F. Green into one of the most convenient airports in the country,” Gov. Gina M. Raimondo said in a news release accompanying the airport corporation’s announcement. “This is yet another sign of how far we’ve come, and I look forward to building on our progress in the years ahead.”