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Kroll Bond Rating Agency Affirms AA- Senior Lien Bond Rating and A+ Subordinate Bond Rating for Metropolitan Nashville Airport Authority

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November 13, 2023


Assessment affirms Stable Outlook, cities growing population, expanding economy, and well-maintained financial operations

NASHVILLE, Tenn. (November 13, 2023) – Kroll Bond Rating Agency (KBRA), a prominent nationally recognized credit rating agency, has affirmed its AA- long-term ratings for the Metropolitan Nashville Airport Authority Airport (MNAA) Improvement Revenue Bonds, and A+ for the Subordinate Airport Improvement Revenue Bonds. The assessment also reaffirms MNAA’s Stable Outlook.

The ratings were upheld due to the following key credit factors:

  • The population of Nashville and Middle Tennessee is increasing, driven by an expanding economy. This growth is attributed to the area’s substantial institutional presence, which includes the state capital, higher education institutions, and healthcare facilities, as well as noteworthy private sector investments and corporate relocations.
  • A strong and well-established growth trend in enplaned passenger numbers, rebounding after pandemic-related disruptions.
  • MNAA’s strong financial operations which are marked by abundant coverage and considerable liquidity.

Nashville International Airport® (BNA®) is committed to maintaining strong bond ratings and ensuring transparency with both the investor community and the general public. MNAA offers an investor relations website accessible at www.nashvilleairportbonds.com.

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