City of Colorado Springs / Colorado Springs Airport / News

Moody‚??s Issues Annual Colorado Springs Airport Credit Rating
Thursday, October 23, 2014

Moody's Investors Service has affirmed the rating on the City of Colorado Springs Airport Enterprise's Airport System Revenue Bonds (Baa1), with the Airport’s outlook remaining STABLE.

A strength noted in this rating recognizes “management’s demonstrated ability and willingness and to make cost reductions that has resulted in sound debt service coverage, substantial liquidity, and a reduced debt burden.” 

Moody’s also recognized that the Airport’s “Cost Per Enplanement will decline as a result of the lower costs, making the Airport more competitive and potentially incenting airlines to commence service at the Airport.”

In addition to reducing direct air carrier costs at COS by 50%, the Airport has seen growth in enplanements for 4 of the past 5 months, while maintaining 734 days cash on hand for fiscal year end 2014.