S&P gives AAA/A-1+, AA- ratings to Massport bonds

Standard & Poor's said it assigned an AAA/A-1+ rating to the Massachusetts Port Authority's $28.8 million series 2008A and $105 million series 2008B airport revenue bonds and an AA- rating to the authority's $80 million series 2008C bonds. The outlook is stable.

The bonds are dated June 26, 2008. Series 2008-A is due July 1, 2038; series 2008-B is due July 1, 2035 and series 2008-C is due July 1, 2028.

S&P also affirmed its AA- and A underlying ratings on Massport's outstanding airport revenue bonds and passenger facility charge revenue bonds, respectively.

The ratings on the series 2008A and series 2008B bonds are based on a letter of credit from Bank of America, NA (AA+/negative/A-1+).

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