The Highest Credit Rating in 15 Years Reflects Leahy BTV's Financial and Operational Strength
BURLINGTON, VT. – Moody’s Investors Service has upgraded the credit rating of Patrick Leahy Burlington International Airport (Leahy BTV) to “Baa1” from “Baa2” with a stable outlook. This achievement marks the airport’s highest credit rating in nearly 15 years and reflects significant strides in financial stability and operational performance.
In its report, Moody’s noted Leahy BTV’s “strong utilization rates despite its smaller size,” sound core financial metrics, and robust cost-recovery framework relative to it’s established airline agreement. The report also praised the airport's liquidity—over 300 days of cash on hand—stable cost profile, and manageable capital investment program funded largely by federal grants. Burlington’s role as a regional hub for government, healthcare, and higher education supports steady air travel demand, reinforcing the airport’s stability, market position and importance in the overall economy to our State and beyond.
“Today marks a proud milestone for our city and the Patrick Leahy Burlington International Airport,” said Mayor Emma Mulvaney-Stanak. “For the first time in 15 years, Moody’s has recognized the Airport with a credit rating increase, reflecting the remarkable turnaround achieved through strong leadership and a dedicated team at Leahy BTV. This is a testament to the vision, hard work, and commitment to excellence that are driving our Airport forward, ensuring it continues to be a cornerstone of economic growth and opportunity for our community.”
“This credit rating increase from Moody’s is a direct reflection of the incredible teamwork and dedication that define Leahy BTV,” said Nic Longo, Director of Aviation, Patrick Leahy Burlington International Airport. “Our amazing partners and extraordinary staff have worked tirelessly to strengthen the Airport’s financial health and deliver exceptional service to our community .This achievement is a testament to the Boundless creativity, Transcendent effort that propel us forward and Visionary thinking. I’m so proud of what we’ve accomplished and excited for what’s ahead as we continue to build on this momentum.”
Leahy BTV had held a “Baa2” credit rating since Moody’s last upgrade in May 2018, which followed a prior improvement in 2014. This steady progression underscores the airport’s commitment to long-term financial health and operational excellence.
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About Patrick Leahy Burlington International Airport: Leahy BTV, a Top 10 Small Airport in the U.S., as named by USA Today, is located adjacent to Burlington, Vermont, just ten minutes from Lake Champlain. Business and leisure travelers alike appreciate Leahy BTV’s friendliness and direct flights to: Atlanta (ATL) via Delta, Charlotte (CLT) via American Airlines, Chicago (ORD) via United, Dallas/Fort Worth (DFW) via American Airlines, Denver (DEN) via United, Detroit (DTW) via Delta, Minneapolis-Saint Paul (MSP) via Sun Country Airlines and Delta, New York City (JFK, LGA, EWR) via United and Delta, Philadelphia (PHL) via American Airlines, Washington, DC (IAD) via United, Washington, DC (DCA) via American Airlines, Orlando (MCO),Tampa (TPA), Jacksonville (JAX), Raleigh-Durham (RDU) and Fort Myers (RSW) via Breeze Airways. Book your getaway today at btv.aero
