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Water Agency Ratings Changes Roundup: June 2022
Fitch Ratings recently updated its ratings on various water agencies in California, Oregon, and Texas. Water District of Southern California was given the rating of 'AA+' on its senior lien and subordinate lien water revenue bonds and term bonds, and bank bond ratings...
NY Port Authority Audit Finds “Indefensible” Pricing
The Port Authority of New York and New Jersey issues revised pricing guidelines for concessions at LaGuardia, JFK and Newark airport. This is after an internal audit found that restaurants in the three major airports were charging "indefensible" amounts, including $23...
Major California Ports’ New Fee Could Bring $90 Million in First Year
In an effort to achieve a zero-emissions future for ports by 2035, the Port of Long Beach and Port of Los Angeles are set to launch the Clean Truck Fund Rate which will charge cargo owners for containers delivered by non-zero-emission vehicles. The imposition of the...
Port Authority Credit Rating Changes Roundup: May 2022
Fitch Ratings and Moody's had recently updated the ratings of several port authorities in America. Port Authority of New York and New Jersey' (PANYNJ) was given an 'A+' rating on its 230th, 231st, and 232nd consolidated bonds. With regard to the obligations of PANYNJ,...
Moody’s: Ports Outlook Positive; Unaffected by Russia, Ukraine War
The Russia-Ukraine war may have rattled the global economy and supply chain, but Moody's asserted that the crisis did not spill over into sea ports as things continue to remain positive for the sector. Summarizing the analysis of Moody's reaffirming its positive...
FAA Grants $608 Million Additional Funding for 440 Airports
The Federal Aviation Administration announced the allocation of $608 million to 441 airports across 46 US states as part of the first round of the 2022 Airport Improvement Program (AIP). The new funding will be given on top of the $20 billion in airport investments...
Supreme Court to Decide Whether Pennsylvania Town Actually Owns Its Water Assets
Does the mid-sized Pennsylvania town of Chester actually own its Water Authority? The state's Supreme Court is now weighing in. In the September decision of the lower court, it ruled that Chester was the sole owner of CWA. This prompted Chester City Council to enter...
Airport Modernizations Offer Unique Partnering Opportunities
Airports in America are undergoing significant changes as focus has shifted to long-overdue, critical needs related to modernization. Finally, there is funding for these efforts. Public officials are preparing to launch thousands of projects with objectives related to...
Details of $2.5B San Antonio Airport Expansion Plan Revealed
In a briefing this month with the City Council for the solicitation and bidding for contractors and planners, officials with the San Antonio International Airport revealed the details of its $2.5 billion expansion plan which includes a new terminal. The funding for...
ACI: $2.4 Trillion Capital Investment Needed In Airport Infrastructure
Airports Council International (ACI) forecasts that more than $2.4 trillion in capital investments is needed by the airport sector to ensure that passenger demand will be met in 2040, according to a new report (The Global Outlook of Airport Capital Expenditure –...
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