Princess Juliana Intl Airport Op Company N.V. — Moody’s announces completion of a periodic review of ratings of Princess Juliana Intl Airport Op Company N.V.
There was widespread interest by international companies with submissions in the range between US $70m through US $99m. Reportedly, a sum of four (4) major bids has been submitted to the Project Management Unit (PMU), who respectfully presides over the entire Airport project. The companies included CCECC (Singapore), Ballast Nedam International (Netherlands), Cotton Global Solutions (United States), and Aecon Airport Construction Ltd (Canada).
MOODY Ba3 rating assigned to Princess Juliana International Airport’s (“PJIA”) reflects short-term challenges such as: (i) tight liquidity, (ii) breach of two covenants that require waivers from investors, (iii) debt service payments that will continue to be made