Fitch has assigned an A plus rating to San Francisco International's $270 million series 2018B and C second series variable rate revenue bonds and $900 million series 2018D, E, F and G second series revenue and revenue refunding bonds. Fitch also affirmed the A plus rating on the airport's $5.3 billion of parity second series revenue bonds.
The rating outlook for all of the bonds is stable.
The rating reflects the airport's strong operational and financial performance within the healthy, yet competitive air trade market in the San Francisco Bay Area. The airport's fully residual airline agreement and proven management team provide a solid framework for stable and competitive results, Fitch said.