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Moody's upgrades Aerostar
Moody's Investors Service said it upgraded the rating assigned to $400 million (original outstanding amount) of senior secured bonds issued by Aerostar Airport Holdings, LLC to Ba1 from Ba2.
The outlook is stable.
Aerostar's rating upgrade to Ba1 from Ba2 incorporates the airport's dominant market position as the largest airport and gateway to San Juan, Puerto Rico, with strong credit fundamentals that limit its exposure to the weak credit quality of the Commonwealth of Puerto Rico (Ca negative), Moody’s said in a news release.
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