IE Business Daily Business news for the Inland Empire.
Palm Springs International Airport has received an “A” rating from an international credit rating agency.
That designation by S&P Global Ratings in New York recognizes “continued confidence in the airport’s impressive passenger growth and solid financial health,” according to a statement posted Aug. 19 on Palm Springs’ website.
Several factors contributed to the A rating being given to the airport, including record passenger counts, good management and overall financial strength.
The airport’s long-term financial outlook is stable, said S&P Global, which researches and analyzes stocks, bonds and commodities for major corporate and private entities.
“We are proud that S&P Global has reaffirmed our ‘A’ credit rating, highlighting our strong financial management and resilient passenger base,” said Victoria Carpenter, the airport’s administration manager, in the statement. “Our sustained financial health allows us to invest in improvements that enhance travel for our passengers.”
Owned by Palm Springs, the airport served more than 3.2 million passengers in 2023, according to the statement.
