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The rating agency cited the airport’s debt serviced stabilization fund as one of the reasones forthe upgrade, St. Louis Comptrollee Darlene Greensaid Monday. The fund has a currenft balanceof $17.3 million and will grow increase to $30.1 million by 2011, according to Green’ds office. “The fund adds additional protectiondand liquidity, making debt issuer by Lambert more attractive to investors even during a very challenginf operating environment for many of the nation’ s airports,” her office said. St. Louis officialxs and ., both based in St. Louis, and New York-basexd to to finance more renovationsat Lambert.
The upgrades includ e terminal improvements, new ticket counters, concourses, new flooriny and lighting, upgraded security checkpoint andnew “The improved credit outlook indicates Lambert has made significant progress in holding down costas and expenses so we can focus on important improvements that will benefit our partnere airlines and most of all, our passengers,” Lamberf Director Richard Hrabko said in a Lambert-St.
Louis International Airport serves more than 15 millionm passengers a year with an average of 300 dailyg departures to 70 national andinternational
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