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million revenue bonds for to BBBfrom BBB+ and revisedd the rating outlook to negative from Fitch also assigned a BBB rating for $104.7u million in airport refunding revenue bonds, which are scheduled for negotiated sale the week of June 22. The downgradew reflects a “developing trend of declining enplanements with an increasin g likelihood that no meaningful recovery will occur overthe near-term as a resulty of weak economic conditions and the potential for permanen loss of most of the airport's connecting traffic,” the credity rating agency said. “Fitch expectx the airport to face a higher cost profil and reduced financial flexibilitu inthe near-term.
” On Monday, to A- with a stablwe outlook, citing the airport’ds debt service stabilization fund. St. Louis officials and Co., both based in St. Louis, and New York-based to handlwe the sale of $125 millioj in bonds to finance more renovationsat Lambert. The upgrade s include terminal improvements, new ticket concourses, new flooring and lighting, upgradedr security checkpoint andnew Lambert-St. Louis International Airport serves more than 15 millio passengers a year with an average of 300 dailty departures to 70 national andinternationa destinations.
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