Fitch gives AA/F1+ to Albany County, N.Y., airport bonds

Fitch Ratings said it assigned ratings of AA/F1+ to Albany County, N.Y., Airport Authority's $84.9 million of airport revenue bonds, variable-rate refunding series 2008A.

Delivery of the bonds is scheduled for Jan. 31.

The rating is based on an irrevocable, direct-pay letter of credit provided by Bank of America, NA. The rating will expire upon expiration or termination of the letter of credit.

Fitch also affirmed its underlying rating on the authority's approximately $150 million of airport revenue bonds.

The long-term outlook is stable.

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