IE Business Daily Business news for the Inland Empire.
S&P Global Rankings has raised to positive its ranking of the Ontario International Airport Authority’s outstanding revenue bonds while affirming the A-minus it had given to the airport’s long-term grade.
Both of those assessments were based on the airport has returned to about 98 percent of its pre-pandemic passenger count, according to a statement on the airport’s website.
S&P Global also mentioned the airport’s access to federal stimulus grants, appeal as a cargo hub and strong management and governance for the positive outlook and A-minus credit rating.
“The S&P outlook is welcome news for Ontario International on the heels of the fifth anniversary of our return to local control,” said Alan D. Wapner, President of the authority’s board of commissioners and Ontario’s Mayor pro tem, in the statement. “We have worked aggressively since the onset of the COVID-19 pandemic to maintain our airfield and facilities while modernizing our cargo facilities in anticipation of a full return to normal operations in 2022.”
