Moody's assigns Aerostar bonds Baa3

Moody's Investors Service said it assigned provisional Baa3 ratings to Aerostar Airport Holdings, LLC's $350 million of senior secured bonds.

The outlook is stable.

Moody's said the provisional Baa3 rating reflects the airport's dominant market position as the largest and closest airport to San Juan - Puerto Rico's capital and largest city - as well as its high contribution of origin and distination traffic, lack of competing transportation options to Puerto Rico and significant certainty of aeronautical revenues under the Airline Use Agreement.

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