Posted at 10:30 a.m., Monday, April 30, 2001

Airport bonds get 'A' rating

Fitch has assigned an "A" underlying rating to $422.4 million of State of Hawai'i Airport System revenue bonds.

The bonds will be insured by a "AAA" rated bond insurer and therefore carry a "AAA" rating. The bonds are scheduled to sell the week of May 7 through negotiation via a syndicate led by UBS PaineWebber Inc. Also, the airport system's approximately $1.0 billion in outstanding parity revenue bonds are rated "A."

The bonds are secured solely by the revenues and aviation fuel taxes of the Hawaii Airports System, which includes Honolulu Airport and 14 other airports statewide.