Investor Relations
Investor Relations
On behalf of the Metropolitan Airports Commission (MAC), I would like to welcome you to our investor relations page. Thank you for your interest.
We are committed to being transparent with the investor community and the public at large. We hope you find the information provided here useful. Your interest and investment in the MAC’s bonds play an important role in our ability to fund critical public infrastructure and realize our purpose of providing exceptional airport experiences so Minnesota thrives. Please feel free to contact us with any questions or suggestions of how we can improve this page.
Tim Simon, MAC Chief Financial Officer
The MAC's Financial Information
Annual Budget Book
Click links for Budget Books.
Monthly Budget Variance Report (Unaudited)
Click links for Monthly Financial Reports.
Annual Comprehensive Financial Reports
Click links for Annual Financial Reports.
Annual Comprehensive Financial Report Ended December 31, 2023 and 2022
Annual Comprehensive Financial Report Ended December 31, 2022
Annual Comprehensive Financial Report Ended December 31, 2021 and 2020
Comprehensive Annual Financial Report Ended December 31, 2020 and 2019
Comprehensive Annual Financial Report Ended December 31, 2019 and 2018
Comprehensive Annual Financial Ended December 31, Report 2017
Current Ratings
The MAC currently has the following credit ratings and outlooks from Fitch and Standard & Poor’s, respectively:
- Senior lien debt: AA-/Stable, AA-/Stable
- Subordinate lien debt: A+/Stable, A+/Stable
These ratings reflect only the respective views of the rating agencies as of the date of the respective reports.
Bond Issues
Information about MAC bond issues can be found at these websites:
Municipal Securities Rulemaking Board: EMMA (msrb.org)
- In the "DAC for Investors" box on the left, click on "Register" to select your personal username and password. Your username and password will be immediately activated.
- Type your username and password in the fields provided on the Home page or Log In page
- On the bottom of the "Attention" page, click on "Continue"
- On the left in the "Quick Search", leave the first box defaulted to "Obligor"
- Type "Minneapolis-St. Paul" in the second box and click the double arrows
- Click on "Minneapolis-St. Paul Metropolitan Airports Commission " to view a list of issues OR click on "Disclosure" to view documents filed
Questions? Please call DAC at 888-824-2663 and speak with a customer service representative.
Municipal Compliance
IRMA Notice
The following notice has been prepared and made available by the Metropolitan Airport Commission (the “MAC”), in light of the Securities and Exchange Commission’s (“SEC”) “Municipal Advisor Rule” under Section 975 of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The MAC is represented by and will rely on the advice of its independent registered municipal advisor with respect to all aspects concerning the issuance of municipal securities and municipal financial products (not including the investment of bond proceeds, and otherwise as those terms are defined in the Municipal Advisor Rule).
Currently, Frasca & Associates, LLC is acting as the Authority’s independent registered municipal advisor.
Contact Information
The MAC's financial professionals are available to answer your questions.
Notice and Disclaimer
Before accessing the Investor Relations section of this website, you must read, acknowledge and accept the following:
The information contained on this website has been included for general informational purposes only and as a convenience to investors, and no person or entity should make any investment decision in reliance upon the information contained herein. The information on this website is not intended for trading purposes. The information on this website is limited in scope and does not contain all material information concerning the Metropolitan Airports Commission (“MAC”) or its bonds and other debt obligations (“Bonds”) that may be necessary to make an informed investment decision.
The information contained on this website speaks only as of the date indicated in the specific materials. If the information is not dated, the information presented on this site speaks only as of the date it was posted. In addition, the website’s information: (i) may not be current or updated at this time; (ii) may not address all of the factors which may be material to an investor; and (iii) may contain material misstatements or omissions of fact because of the passage of time or changes in facts or circumstances.
THIS IS NOT AN OFFER TO SELL BONDS. Under no circumstances shall the information on this website be construed as an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Investors wishing to purchase any Bonds must do so from a registered broker-dealer, and not from MAC. Persons considering purchasing any Bonds may obtain a copy of the applicable official statement or other applicable offering document (“Official Statement”) from their broker-dealer.
No dealer, broker, salesperson or other person has been authorized to give any information or to make any representations other than as contained in the Official Statement for the particular Bonds and, if given or made, such other information or representations must not be relied upon.
The information on this website may include forward-looking information, including, but not limited to, projections and estimates. Such information is based on certain assumptions and expectations which may, or may not, occur or be realized. No assurances can be given that such projections or estimates will occur or be realized, and actual results may differ materially. Past results should not be relied on as predictions, or indicators, of future results.
Certain information on this website has come from other sources that are not developed by MAC and MAC presents that information for convenience only. MAC does not guarantee the accuracy of any such information and undertakes no responsibility to verify any of that information. All information on this website has been obtained by MAC from sources believed to be reliable but no representation or warranty is made by MAC as to its accuracy or completeness. The information provided on this website is provided for quick reference only and does not purport to include every item that may be relevant, nor does it purport to present full and fair disclosure with respect to any financial reports, transactions, bonds, notes and other obligations related to MAC within the meaning of applicable securities laws and regulations.
No statement found on this website, the Minneapolis-St. Paul International Airport website, the MAC website or any website with respect to any of the other airports owned and operated by the MAC is incorporated by reference in any Official Statement for any Bonds and no statements on this this website, the Minneapolis-St. Paul International Airport website, the MAC website or any website with respect to any of the other airports owned and operated by the MAC constitutes a part of any Official Statement.
The MAC reserves the right to change, alter, update and/or modify the information on this website, at any time, without notice, including, but not limited to, the terms and conditions of this “Notice and Disclaimer."
By choosing to continue and view the website’s information, you acknowledge that you have read, fully understand, and accept this Notice and Disclaimer.