KBRA Releases Research – Update on KBRA Ratings in Path of Hurricane Ian – Press Release

KBRA releases research on Hurricane Ian-related exposure to its rated Florida credits.

Hurricane Ian came ashore in southwestern Florida as a Category 4 storm on September 28 and followed a northeasterly path through central Florida before heading to the Atlantic Ocean the next day before making a second landfall in South Carolina on September 30. The storm’s path resulted in human casualties as well as massive residential and commercial property damage in several communities.

The impact on Florida’s airports was significantly less severe. Miami was outside the range of destructive winds and flooding and was operational throughout the hurricane. Tampa, Orlando, and southwest Florida airports closed for the duration of the storm, with the former two reopening on September 30 and the latter on October 5.

All KBRA-rated airports have ample liquidity. KBRA will continue to monitor passenger volumes to affected areas to ascertain whether the storm damage has any long-term travel pattern impacts.

Click here to view the report.

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KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

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