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Palm Springs International Airport has received an “A” rating from S&P Global ratings, a New York-based credit rating agency that evaluates public infrastructure.
That designation applies to the airport’s passenger facility charge revenue bonds, which help pay for terminal upgrades, baggage handling improvements and other changes that will help promote international travel, according to a statement on the city’s website.
It is based on several factors, including passenger count and the airport’s financial management practices.
S&P Global, which has given Palm Springs International “A” ratings in the past, has made it possible for the airport to move forward on improvement projects without having to pay for them with revenue from local taxes.
“This rating is more than a financial milestone, it’s a signal to our community, airline partners, and federal stakeholders that Palm Springs International Airport is healthy, growing, and ready for the future,” said Victoria Carpenter, the airport’s administration manager, in the statement.
