The change was made because of what Fitch Ratings says is continued weakness in the airport’s operating performance. The firm pointed to “multi-year declines of the enplanement base.”
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The airport faces challenges including the recent loss of Southwest Airlines, the access to alternative airports such as Cincinnati and Columbus and service area demographics, the firm said.
“In Fitch’s view, the airport’s financial flexibility is potentially more at risk to be pressured with rising costs per enplanement as well as lower coverage as higher debt service costs are now factored into the annual budget,” the firm said.
This news organization is reaching out to the city for comment and will update this story.
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