Ontario International Airport

Fitch Ratings reported its assessment of fixed-rate bonds for ONT, setting them at an A-minus rating with a “stable” outlook. (File Photo)

By Richard K. De Atley, The Press-Enterprise
Posted: 10/06/16 – 9:21 PM PDT |

ONTARIO >> Fitch Ratings reported Thursday its assessment of $52.2 million in fixed-rate bonds for Ontario International Airport Authority, setting them at an A-minus rating with a “stable” outlook.

The OIAA bonds are secured by a senior lien on airport net revenues, and are expected to close Nov. 1, when ONT is transferred to the local authority from Los Angeles World Airports under a $250 million agreement reached in 2015.

The new OIAA rating and outlook match the ones Fitch gave the outgoing LAWA bonds in September. The Ontario authority said earlier this week it expects to hear the new bond prices later this month, possibly by Oct. 17.

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