S&P Global Ratings has reaffirmed its long-term ‘A’ rating for Palm Springs International Airport (PSP), indicating continued confidence in the airport’s impressive passenger growth and solid financial health. The reaffirmation reflects the ongoing strength of PSP’s financial metrics.
S&P Global highlighted several of the airport’s strengths it said contributed to the ‘A’ rating:
1. Record Passenger Numbers: PSP’s passenger traffic has surpassed pre-pandemic levels, showing strong demand for air travel.
2. Effective Management: The airport’s management team is recognized for their skill in
running a successful airport and maintaining financial stability.
3. Financial Strength: The airport maintains strong financial metrics, including excellent debt service coverage and liquidity.
The outlook for PSP remains stable, S&P Global said, reflecting expectations of continued passenger growth and strong financial performance.
“We are proud that S&P Global has reaffirmed our ‘A’ credit rating, highlighting our strong financial management and resilient passenger base,” said Victoria Carpenter, PSP’s Airport Administration Manager. “We’re grateful to the community for their continued support of Palm Springs International Airport. Our sustained financial health allows us to invest in improvements that enhance the travel experience for our passengers. We look forward to the future success of PSP.”
PSP has continued to see record passenger volumes, positioning itself as a key player in the region’s aviation market. The airport’s robust performance and strategic management have been pivotal in attracting and retaining airline partners, ensuring a bright future for the airport and its stakeholders.
