Moody's upgrades airport's bond rating

Moody's Investors Service has upgraded the credit rating on the Metropolitan Nashville Airport Authority's airport improvement revenue bonds from A2 to A1, MNAA announced today in a release.

Moody's also affirmed the A3 rating on MNAA’s consolidated rental car facility bond.

MNAA owns and operates Nashville International Airport (BNA) and John C. Tune Airport.

“This upgrade of MNAA’s bond rating underscores continued passenger growth, increasing visitor and convention traffic to Nashville and responsible fiscal management of our airports,” Rob Wigington (pictured), MNAA president and CEO, said in the release.

The Moody’s upgrade comes as BNA saw a January passenger number of 759,607, a 6.17 percent increase from the 715,425 mark of January 2013. Fiscal year to date, BNA’s passenger count number is up 5.83 percent compared to the number of the previous fiscal year.