Fitch notes that the long-term nature of the 15-year concession agreement with the rental car operators that takes effect on the project date of beneficial occupancy
(DBO) and co-terminus with the lease agreement is viewed as a credit strength.
The airport has recently amended its concession agreements with all on-airport rental car operators, which will have an initial ten year term commencing on the date of beneficial occupancy
Construction is expected to begin in June 2011 and the fall of 2013 is the anticipated date of beneficial occupancy
The CONRAC was completed and opened for beneficial occupancy
in April 2010, on-time and on-budget.