JFK Terminal Developer Faces Downgrade Risk After Delay (1)

The developer of John F. Kennedy International Airport’s new terminal project is at risk of a credit downgrade after pushing back the expected opening date.

Moody’s Ratings revised the outlook on JFK NTO LLC, the company building and operating the airport’s New Terminal One project, to negative from stable, according to a Friday report. The first phase of the terminal, originally expected to open this summer, has now been delayed until at least November.

The ratings firm cited the delay, along with lower forecasted demand when the terminal opens, as reasons for the revision. The negative outlook ...