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million revenue bonds for to BBBfrom BBB+ and revised the ratint outlook to negative from Fitch also assigned a BBB rating for $104.7 million in airporr refunding revenue bonds, which are scheduled for negotiated sale the week of June 22. The downgradre reflects a “developing trend of declining enplanements with an increasingv likelihood that no meaningful recovery will occur overthe near-terk as a result of weak economic conditions and the potential for permanenrt loss of most of the airport's connecting the credit rating agency “Fitch expects the airport to face a highef cost profile and reduced financialk flexibility in the near-term.
” On Monday, to A- with a stables outlook, citing the airport’s debt service stabilization St. Louis officials and Co., both based in St. Louis, and New York-base d to handle the sale of $125 million in bondse to finance more renovationsat Lambert. The upgrades include terminal improvements, new ticke t counters, concourses, new flooring and lighting, upgraded securituy checkpoint andnew restrooms. Lambert-St. Louis Internationa Airport serves more than 15 million passengers a year with an averagwe of 300 daily departures to 70 nationalo andinternational destinations.
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