Moody's assigns MIG 1 to Airport Authority of the City of Lincoln, NE's Bond Anticipation Notes, Series 2014 A & B

Posted on: August 1, 2014, 5:37 pm

NEW YORK, August 01, 2014 --Moody's Investors Service has assigned a MIG 1 rating to Lincoln Airport Authority's (NE) Bond Anticipation Notes $13.1 million Tax-Exempt 2014 Series A and $11.1 million Taxable 2014 Series B. The BANs are special, limited obligations of the Authority, secured by and payable from future long-term bond proceeds, or other lawfully available moneys of the authority. Moody's also affirms the authority's long-term general obligation limited tax debt. The authority has $32.6 million in debt outstanding, of which $23 million is rated by Moody's. The bonds are secured by the authority's general obligation limited tax pledge, limited to a levy of $0.035 per $100 of taxable valuation. While debt service is ultimately secured by the authority's property tax levy, debt service is expected to be paid from lease and rent payments as well as other available operating revenues...

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