KBRA Releases Report for City of Atlanta, GA Airport General Revenue Bonds

On August 19, 2025, KBRA assigned a long-term rating of AA+ with a Stable Outlook, to the City of Atlanta, Georgia, Airport General Revenue Bonds Series 2025A (Non-AMT) and Series 2025B (AMT). Concurrently, KBRA affirmed the long-term rating of AA+, with a Stable Outlook, to the City's outstanding Airport General Revenue Bonds and Passenger Facility Charge Subordinated Lien Airport General Revenue Bonds.

The City's Airport General Revenue Bonds (GARBs) are secured by a pledge of net General Revenues, while the Airport Passenger Facility Charge (PFC) and Subordinate Lien Revenue Bonds (Hybrid PFC Bonds) are secured by a senior lien on PFCs and a subordinate lien on net General Revenues. KBRA makes no rating distinction between the GARBs and Hybrid PFC Bonds given the strength of debt service coverage on both liens and the subordinate pledge of airport net revenues available to pay Hybrid PFC debt service, if needed.

To access ratings and relevant documents, click here.

Click here to view the report.