Airport outlook improves

FORT MYERS — Bond-rating agency Fitch upgraded the outlook on $307 million worth of revenue bonds issued by Southwest Florida International Airport.

According to the Lee County Port Authority, which operates the airport in Fort Myers, Fitch raised its outlook on the A-rated revenue bonds from “negative” to “stable.” More than 7.6 million passengers passed through the airport in 2013 and it ranks as one of the top 50 U.S. airports for passenger traffic.

“The change to a stable outlook reflects traffic levels that are showing signs of improvement amid an economic recovery within the airport's greater service area,” the airport authority says in a statement. “Fitch noted the airport's traffic and operations have recovered to the extent that earlier concerns about debt service coverage and increased airline costs are now less material.”

“The Lee County Port Authority is pleased Fitch recognizes the strength of our balance sheet and the efforts we have made to promote growth and control costs,” said Robert Ball, executive director of the Lee County Port Authority, in a statement.