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Indianapolis Airport Authority credit rating holds steady even as revenue falls

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On The Beat Industry News In Brief

Beginning to pay the mortgage this year on a new, $1.1 billion terminal—just as the airline industry lost lift—the Indianapolis Airport Authority still has managed to maintain its rating by two credit agencies.

But Standard & Poor’s Ratings revised its outlook from stable to negative, while Moody’s Investors Service tweaked it from positive to stable.

Their ratings of the authority remain at A1 and A.

Indianapolis has fared better than some airports in terms of declining revenue, with passengers down about 10 percent for much of the year and revenue off 16 percent at one point. Earlier this year, the airport estimated that revenue may come in at 15 percent below projections.

But the ratings agencies said the authority maintained a strong financial position overall and has diversified revenue. It remains uncertain when traffic will pick up and by how much, however.

The authority plans a $25 million debt refunding, with bonds scheduled to price in mid-January.

The terminal carries a mortgage of about $40 million a year. It’s touted as being more efficient, while designed to generate extra retail and food/beverage revenue.

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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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