KBRA Releases Research – Coronavirus (COVID-19): CARES Act Grants Bolster Airport Short-Term Liquidity

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NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases commentary discussing the boost to airport liquidity provided by the $10 billion in grants-in-aid funding for U.S. airports provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES). KBRA believes that the additional funding will better position airports to grant rate relief to airlines and concessionaires and provide additional resources to meet near-term debt service obligations.

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About KBRA

KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

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Contacts

Analytical Contacts

Harvey Zachem, Managing Director

+1 (646) 731-2385

hzachem@kbra.com

Peter Scherer, Associate

+1 (646) 731-2325

pscherer@kbra.com

Karen Daly, Senior Managing Director

+1 (646) 731-2347

kdaly@kbra.com

William Cox, Global Head of Corporate, Financial, and Government Ratings

+1 (646) 731-2472

wcox@kbra.com

Business Development Contact

Bill Baneky, Managing Director

+1 (646) 731-2409

bbaneky@kbra.com

James Kissane, Senior Director

+1 (213) 806-0026

jkissane@kbra.com