Airport seeks to refinance bonds

Moody's Investor Service gave an A1 rating general revenue refunding bonds for Hartsfield-Jackson International Airport, while Fitch Ratings gave the bonds an A+ rating.

Both ratings agencies also said the ratings outlook for the bonds is stable.

With the bond issuance, Hartsfield-Jackson is seeking to refinance the bonds to get rid of variable rate bonds. The move follows the airport's issue of bonds earlier this year for new money to complete the airport's international terminal.

The Moody's report noted there are some risks concerning increased costs and completion of the international terminal, and there's a potential for slower than average economic recovery in Atlanta because of high commercial real estate vacancy rates. But traffic at the airport is stabilizing, according to the report. Fitch noted it will monitor the proposed Southwest Airlines acquisition of AirTran Airways for potential service changes that could affect the airport's traffic.

The airport plans to issue the refunding bonds this month, but may postpone the issue if market conditions are not favorable.

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