Talks are underway between the Ports Authority and the Puerto Rico National Guard to move the latter’s operations out of Isla Grande’s Fernando Ribas Dominicci and Luis Muñoz Marín International airports to Ceiba, to free up valuable space at the metropolitan area air transportation facilities.
Moody's Investors Service announced Wednesday it has assigned provisional ‘Baa3’ ratings to Aerostar Airport Holdings, LLC's $350 million of senior secured bonds. The outlook is stable. Bond proceeds will be used to partially fund the acquisition of a long-term lease to operate the Luis Muñoz Marin Airport.
In about a week, the Federal Aviation Administration is expected to make its decision on the public-private partnership agreement through which the government of Puerto Rico would turn over the management of the Luis Muñoz Marín International Airport to Aerostar Airport Holdings for the next 40 years.
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