SFO Earns Its Highest-Ever Credit Rating from Moody’s

SFO Earns Its Highest-Ever Credit Rating from Moody's

Airport upgraded from "A1" to "Aa3" rating

SAN FRANCISCO - November 14, 2025 - Moody's Ratings, one of the three largest credit-rating agencies, announced an upgrade to SFO's rating from "A1" to "Aa3", the highest level ever achieved by the Airport. The rating was assigned to SFO's Second Series Revenue Bonds. Moody's noted the Airport's "significant improvement in liquidity" and "continued enplanement recovery" in its decision to upgrade the rating to "Aa3".

"Achieving our highest-ever rating from Moody's is the ultimate validation of SFO's financial strategy and long-term planning," said Airport Director Mike Nakornkhet. "This milestone enables us to continue our investment in a world-class airport experience that is second to none."

SFO finances capital improvement projects through the issuance of airport revenue bonds, a type of municipal bond in which the operating revenue of an airport is used to secure the bond. Rating agencies like S&P Global, Fitch, and Moody's rank debt instruments, like bonds and the companies that issue them, in terms of creditworthiness, which is defined as the likelihood that the company will default or otherwise be unable to pay its debts.

About San Francisco International Airport

SFO is committed to providing an extraordinary airport experience, with seamless access, thoughtful amenities, sustainable design and inspiring artwork and exhibits.

For up-to-the-minute departure and arrival information, airport maps and details on shopping, dining, cultural exhibitions, ground transportation and more, visit flysfo.com. Follow us on x.com/flysfo and facebook.com/flysfo.