TULSA, OK – May 22, 2024 – S&P Global Ratings, the credit rating agency, recently upgraded Tulsa Airports Improvement Trust’s (TAIT) long-term rating and underlying rating (SPUR) for Tulsa International Airport (TUL) from ‘A‘ to ‘A+’, with a stable outlook. An increased bond rating from S&P Global Ratings is crucial for an airport as it signifies a stronger financial position and greater creditworthiness. This elevated rating can lead to lower borrowing costs, enabling the airport to finance major capital projects and maintenance more affordably if necessary. A higher bond rating also reflects positively on the airport’s management and operational efficiency. The organization’s last S&P Global rating increase took place in July 2022.

“We are thrilled that S&P Global has increased our credit rating score again, as it is a testament to our unwavering commitment to financial stability”, said Alexis Higgins, Tulsa Airports Improvement Trust CEO. “This upgrade not only validates the hard work and dedication of our entire team but also strengthens our ability to invest in our future growth through our capital
improvement projects, ensuring a top-notch experience for all our passengers and partners.”

The improved rating was primarily driven by the following factors:

• Compared to its peer airports, TUL has had a strong enplanement recovery since the pandemic.
• Passenger demand is only expected to grow even further. Reasons such as the airport having several strong air carriers operating out of TUL, along with the facts that the Tulsa area has a 2.0% three-year average projected population increase and that unemployment is currently at 3.6% are all indicative of continued growth in demand.
• The organization has a strong management team and Board of Trustees, with flexibility to adjust capital spending, operating expenses, and the reallocation of restricted cash reserves to pay for operations if needed.

About Tulsa Airports Improvement Trust: Tulsa Airports Improvement Trust (TAIT) administers, manages and operates Tulsa International Airport (TUL) and Tulsa Riverside Airport (RVS), both of which are owned by the City of Tulsa. TAIT’s mission is to provide a safe, efficient, self-supporting airport system for the citizens of the Tulsa metropolitan area and surrounding region.

About Tulsa International Airport: Five air carriers offer nonstop service from TUL to 22 destinations across the country. In 2023, the airport had the highest number of annual passengers since 2008 with a total of 3.14 million passengers. For more information visit www.flytulsa.com.

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