{"id":51488,"date":"2026-08-05T02:13:00","date_gmt":"2026-08-05T00:13:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=b1620445ba856e9e38c302e145a101b3"},"modified":"2026-08-05T02:13:00","modified_gmt":"2026-08-05T00:13:00","slug":"kbra-assigns-rating-of-a-to-reno-tahoe-airport-authority-airport-revenue-bonds-series-2026a-amt-and-series-2026b-non-amt-affirms-rating-for-parity-bonds","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=51488","title":{"rendered":"KBRA Assigns Rating of A+ to Reno-Tahoe Airport Authority Airport Revenue Bonds, Series 2026A (AMT) and Series 2026B (Non-AMT); Affirms Rating for Parity Bonds"},"content":{"rendered":"<p>NEW YORK--(BUSINESS WIRE)--<a href=\"https:\/\/twitter.com\/hashtag\/creditratingagency?src=hash\" >#creditratingagency<\/a>--KBRA assigns a long-term rating of A+ to the Reno-Tahoe Airport Authority Airport Revenue Bonds, Series 2026A (AMT) and Airport Revenue Bonds, Series 2026B (Non-AMT). KBRA additionally affirms the long-term rating of A+ for the Authority's outstanding Airport Revenue Bonds. The rating Outlook is Stable.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260804162403\/en\/2868468\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260804162403\/en\/2868468\/22\/kbra-logo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260804162403\/en\/2868468\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260804162403\/en\/2868468\/21\/kbra-logo.jpg\" \/><\/a><p>\n<strong>Key Credit Considerations<\/strong><\/p><p>\nCredit Positives<\/p><ul class=\"bwlistsquare\">\n<li>\nEnplanement growth is buttressed by a growing air trade area economy and limited competition.<\/li>\n<li>\nSound financial performance, characterized by increasing non-airline revenue generation and healthy liquidity.<\/li>\n<li>\nHistorically limited use of debt as a source of capital funding.<\/li>\n<\/ul><p>\nCredit Challenge<\/p><ul class=\"bwlistsquare\">\n<li>\nExpected, significant increase in leverage as borrowing to fund MoreRNO occurs over multiple fiscal years<\/li>\n<li>\nExecution and completion risks associated with implementing a multi-year, transformational CIP<\/li>\n<li>\nRNO\u2019s still small enplanement base, coupled with moderate airline concentration and limited geographic reach.<\/li>\n<\/ul><p>\n<strong>Rating Sensitivities<\/strong><\/p><p>\nFor Upgrade<\/p><ul class=\"bwlistsquare\">\n<li>\nStrengthening operating margins, coupled with DSC that consistently exceeds required minimums.<\/li>\n<li>\nMaintenance of competitive airline costs that outperform projections.<\/li>\n<\/ul><p>\nFor Downgrade<\/p><ul class=\"bwlistsquare\">\n<li>\nIssuance of additional debt without a commensurate rise in resources available for repayment.<\/li>\n<li>\nFailure to implement the MoreRNO Program on-time and generally within budget, resulting in financial stress.<\/li>\n<li>\nWhile not expected, a prolonged period of depressed passenger traffic resulting from an exogenous shock or structural shift in the airline industry.<\/li>\n<\/ul><p>\nTo access ratings and relevant documents, click <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fissuers%2F63861%2Fissuer-ratings&amp;esheet=54583666&amp;newsitemid=20260804162403&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=ed2c15476f19dad1855615a7010d7b29\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\n<strong>Methodology<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FvVHnzBrD&amp;esheet=54583666&amp;newsitemid=20260804162403&amp;lan=en-US&amp;anchor=Public+Finance%3A+U.S.+General+Airport+Revenue+Bond+Rating+Methodology&amp;index=2&amp;md5=d80942a32d6073eda714f8096675b76e\" rel=\"nofollow\" shape=\"rect\">Public Finance: U.S. General Airport Revenue Bond Rating Methodology<\/a><\/li>\n<\/ul><p>\n<strong>Disclosures<\/strong><\/p><p>\nA description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fissuers%2F63861%2Fdisclosures&amp;esheet=54583666&amp;newsitemid=20260804162403&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=d12614ea0ca00d22e68c1cb5b190a7fd\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nInformation on the meaning of each rating category can be located <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Funderstanding-ratings%2Frating-scales%2Flong-term-credit-rating&amp;esheet=54583666&amp;newsitemid=20260804162403&amp;lan=en-US&amp;anchor=here&amp;index=4&amp;md5=66126bd909457e6f5ca5c4b95e5b143f\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p><p>\nFurther disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com&amp;esheet=54583666&amp;newsitemid=20260804162403&amp;lan=en-US&amp;anchor=www.kbra.com&amp;index=5&amp;md5=b7c27c039b71fcd94779eacd15a00b03\" rel=\"nofollow\" shape=\"rect\">www.kbra.com<\/a>.<\/p><p>\n<strong>About KBRA<\/strong><\/p><p>\nKroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan\u2019s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.<\/p><p>\nDoc ID: 1016300<\/p><br\/> <b>Contacts<\/b> <br\/><p>\n<strong>Analytical Contacts<\/strong><\/p><p>\nPeter Scherer, Senior Director (Lead Analyst)\n<br\/>+1 646-731-2325\n<br\/><a  href=\"mailto:peter.scherer@kbra.com\" rel=\"nofollow\" shape=\"rect\">peter.scherer@kbra.com<\/a><\/p><p>\nDouglas Kilcommons, Managing Director (Rating Committee Chair)\n<br\/>+1 646-731-3341\n<br\/><a  href=\"mailto:douglas.kilcommons@kbra.com\" rel=\"nofollow\" shape=\"rect\">douglas.kilcommons@kbra.com<\/a><\/p><p>\n<strong>Business Development Contacts<\/strong><\/p><p>\nWilliam Baneky, Managing Director\n<br\/>+1 646-731-2409\n<br\/><a  href=\"mailto:william.baneky@kbra.com\" rel=\"nofollow\" shape=\"rect\">william.baneky@kbra.com<\/a><\/p><p>\nJames Kissane, Senior Director\n<br\/>+1 646-731-2380\n<br\/><a  href=\"mailto:james.kissane@kbra.com\" rel=\"nofollow\" shape=\"rect\">james.kissane@kbra.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>NEW YORK&#8211;(BUSINESS WIRE)&#8211;#creditratingagency&#8211;KBRA assigns a long-term rating of A+ to the Reno-Tahoe Airport Authority Airport Revenue Bonds, Series 2026A (AMT) and Airport Revenue Bonds, Series 2026B (Non-AMT). KBRA additionally affirms the long-te&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-51488","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/51488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51488"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/51488\/revisions"}],"predecessor-version":[{"id":51489,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/51488\/revisions\/51489"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}