Fitch affirms Southwest Florida International Airport's bond rating

Fitch Ratings has affirmed the 'A' rating on Southwest Florida International Airport's $348 million airport revenue bonds, saying the rating outlook on all bonds is stable. The bonds are payable from the net revenues generated by the operations of Southwest Florida International Airport.

The 'A' rating is based on the airport's history of strong passenger demand, the airport's new terminal and existing airfield facilities that provide adequate terminal and airfield capacity, the diverse group of air carriers serving a 100 percent origination and destination market, the airport's strong balance sheet position, manageable near-term capital requirement with no bonding needs and the lack of material airport competition in the region.

The stable outlook reflects the airport's somewhat resilient traffic in light of the economic downturn.

"The Lee County Port Authority is pleased that Fitch recognizes the resilience of RSW and the strength of our balance sheet during these difficult economic times," said Robert M. Ball, A.A.E., executive director of the Lee County Port Authority. "We will continue to contain costs and manage our resources as part of our commitment to maintain a stable financial position."

Fitch publishes ratings of credit worthiness from AAA to D.

Southwest Florida International Airport served more than 7.6 million passengers in 2008 and is one of the top 50 U.S. airports for passenger traffic. No ad valorem (property) taxes are used for airport operation or construction. For more information, log onto www. flylcpa.com.