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DENVER – Aug. 14, 2019 – Following Denver International Airport’s (DEN) decision to terminate the contract with Great Hall Partners (GHP) to design and construct the airport’s Great Hall Project, Fitch Ratings has confirmed DEN’s decision by reaffirming its strong financial rating. In their announcement today, Fitch states, “The airport has a strong financial position and demonstrated market access to defray the termination obligation.”
Per the Fitch Ratings report, DEN’s AA-/A+ with Stable Outlook rating will remain unaffected by the decision to end its contract with Great Hall Partners. The airport has the revenue stream and airline activity to fully fund the contract termination with GHP.
Fitch Ratings also confirmed that DEN’s decision to apply the termination for convenience option provides the most certain outcome for debt repayment. DEN will be managing 100% of the construction and subsequent concessions, no longer sharing future concessions revenue with GHP, as it moves forward to complete the Great Hall Project.
For the full statement about the Fitch Rating, read Fitch Ratings: Great Hall Termination Will Not Hit DIA or Project’s Rating
Denver International Airport is one of the busiest airports in the world. DEN is the primary economic engine for the state of Colorado, generating more than $36 billion for the region annually. For more information visit www.FlyDenver.com, check us out on YouTube and Instagram, like us on Facebook and follow us on Twitter. Sign up for DEN’s monthly newsletter Nonstop News.
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