Artist’s rendition of proposed improvements at the south end of Denver International Airport’s main terminal.
The City and County of Denver has completed sale of a $349 million revenue bond issue to refund Denver International Airport debt, DIA officials announced late Friday.
The Series 2011A alternative minimum tax bonds, maturing in 2023, refunded all of DIA’s Series 2008A3-A4 bonds and most 2000A bonds, and generated $10 million in present-value savings, officials said.
“The successful outcome of the bond offering is a reflection of the strong financial framework of Denver International Airport,” Kim Day, Denver’s manager of aviation, said in a statement.
The sale came after two bond-rating agencies — Fitch Ratings and Standard & Poor’s — affirmed DIA’s debt as stable, although another rater, Moody’s Investors Service, downgraded its outlook to “negative” from “stable.”
Fitch gave the Series 2011A bonds an “A+”rating.
DIA’s capital improvement plan includes construction of a major hotel, transit and retail complex at the south end of the airport terminal.
The City and County of Denver has completed sale of a $349 million revenue bond issue to refund Denver International Airport debt, DIA officials announced late Friday.
The Series 2011A alternative minimum tax bonds, maturing in 2023, refunded all of DIA’s Series 2008A3-A4 bonds and most 2000A bonds, and generated $10 million in present-value savings, officials said.
“The successful outcome of the bond offering is a reflection of the strong financial framework of Denver International Airport,” Kim Day, Denver’s manager of aviation, said in a statement.
The sale came after two bond-rating agencies — Fitch Ratings and Standard & Poor’s — affirmed DIA’s debt as stable, although another rater, Moody’s Investors Service, downgraded its outlook to “negative” from “stable.”
Fitch gave the Series 2011A bonds an “A+”rating.
DIA’s capital improvement plan includes construction of a major hotel, transit and retail complex at the south end of the airport terminal.
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