KBRA Releases Report Assigning AA- With a Stable Outlook to Miami-Dade County, Florida Aviation Revenue Refunding Bonds, Series 2019 C, D, & E

NEW YORK–(BUSINESS WIRE)–On August 7, 2019, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- with a Stable Outlook to Miami-Dade County, Florida: Aviation Revenue Refunding Bonds, Series 2019C (Non-AMT); Aviation Revenue Refunding Bonds, Series 2019D (Non-AMT); and, Aviation Revenue Refunding Bonds, Series 2019E (Taxable). KBRA additionally affirmed the long-term rating of AA- and Stable Outlook on the County’s outstanding Aviation Revenue Bonds.

Issuer: Miami-Dade County, Florida

Assigned

Rating

Outlook

Aviation Revenue Refunding Bonds, Series 2019C (Non-AMT)

AA-

Stable

Aviation Revenue Refunding Bonds, Series 2019D (Non-AMT)

AA-

Stable

Aviation Revenue Refunding Bonds, Series 2019E (Taxable)

AA-

Stable

Affirmed

Rating

Outlook

Aviation Revenue Bonds

AA-

Stable

The rating actions are based on KBRA’s U.S. General Airport Revenue Bond Rating Methodology. KBRA’s rating evaluation of the long-term credit quality of general airport revenue bonds focuses on the following six key rating determinants:

  • Management
  • Economics/Demographics of Service Area
  • Airport Utilization
  • Airport Debt/Capital Needs
  • Airport Finance
  • Legal Mechanics and Security Provisions

To access the report, click here.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical Contacts:

Harvey Zachem, Managing Director

(646) 731-2385

hzachem@kbra.com

Peter Scherer, Associate

(646) 731-2325

pscherer@kbra.com

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