$1.5 Billion Series 2008/2009 Senior Revenue Bonds
Los Angeles International Airport (LAX) is implementing a multi-billion dollar capital improvement program that will rebuild aging infrastructure, modernize critical facilities and prepare for next generation aircraft. As part of the team of financial consultants responsible for preparing debt feasibility studies and financing plans for LAX’s bond offerings, PES provided economic base studies with socioeconomic and demographic analyses for the five-county Los Angeles CSA. PES’s work examined demographic and employment trends as well as an analysis of the region’s major industry sectors with particular focus on the travel and tourism industry. PES’s analysis is incorporated into air traffic and financial projections, and rating agency presentations for Fitch Ratings, Moody’s Investors Service Inc. and Standard & Poor’s U.S. Public Finance Ratings. PES’s rapid turnaround on this project assisted LAX in accessing Build America Bonds for airfield improvements in a favorable interest rate environment.