Moody’s changes Aerostar view

Moody's Investors Service said it confirmed the Ba2 rating on the $400 million of senior secured bonds issued by Aerostar Airport Holdings, LLC and changed the outlook to negative.

The action concludes the review that was initiated on Sept. 27.

The agency said the action reflects Aerostar's credit strengths that partially mitigate the impact of Hurricane Maria on Puerto Rico and its consequences on the economy and population trends.

“While we expect that tourism-related travel will be significantly reduced in the short term, we expect that it will materially recover over the next two years,” Moody’s said in a news release.

“Moreover, outmigration and diaspora related enplanements are expected to partially compensate lower tourism travel in the short term.”

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