PROVIDENCE, R.I. (AP) - A ratings agency has increased the bond outlook for the state agency that runs T.F. Green Airport in Rhode Island.
The Providence Journal reports that Fitch Ratings upgraded its outlook on the $100.9 million in airport revenue bonds from “stable” to “positive” in a report released Oct. 16.
The agency says strong growth in the number of passengers at the airport and increased cash flows played a role in upgrading the outlook.
Bond ratings affect the cost of borrowing money.
Fitch Ratings says continued stability at the airport will likely lead to an increased bond rating in the future.
Democratic Gov. Gina Raimondo says the airport’s progress is “emblematic of what’s happening all around the state.”
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