The Palm Springs International Airport has maintained an “A” long-term rating from a financial services company, airport officials said Monday.
The rating from S&P Global, known for providing market analytics, pointed to several key factors for the rating. Those include effective management, strong debt service coverage and a record number of travelers, which eclipsed pre-COVID-19 pandemic levels.
“We are proud that S&P Global has reaffirmed our `A’ credit rating, highlighting our strong financial management and resilient passenger base,” airport administration manager Victoria Carpenter said in a statement. “Our sustained financial health allows us to invest in improvements that enhance the travel experience for our passengers.”
S&P Global determined the airport had a stable outlook and expects those trends to continue, according to airport officials.
The rating improved from “A-” to ”A” in 2022 and has remained there since.