The airport authority that runs Detroit Metropolitan and Willow Run Airport recently received an outstanding credit rating boost from the credit rating agency Moody's Investment Services. Moody's has upgraded Wayne County Airport Authority's credit rating from A2 to A1.
Moody's stated that the WCAA's outlook is stable, citing its "solid financial position" in the press release. The A1 rating pertains to $1.6 billion in outstanding senior lien revenue bonds.
Moody's also upgraded the WCAA's $130.3 million outstanding junior lien revenue bonds to A2 from A3.
Last September, Moody's upgraded Wayne County's credit rating as well.
"Wayne County's recovery has created a foundation for growth, but even Wall Street recognizes that sustainable growth must be broad-based," Evans told Crain's Detroit in September. "Expanding our tax base and developing a more diversified economy are important. However, it's equally critical that we address poverty and aggressively pursue policies, such as regional transit, that create opportunities for residents."
The WCAA was created in 2002 and is a separate legal entity from the county.
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