Ernest N. Morial Convention Center
Saturday, June 15 2019

New Orleans Exhibition Hall Authority Maintains AA+ Bond Rating

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Solid financial strength allowed the Ernest N. Morial New Orleans Exhibition Hall Authority (“the Authority”) to maintain its AA+ bond rating from Fitch Ratings. Fitch also noted that the Authority’s special tax bonds have a “stable outlook.”  The Fitch Group is a global leader in financial information services including credit ratings that provide valuable insights for investors in long-term debt.  Fitch’s AA+ bond rating is one of the highest that can be achieved.

“We are pleased with the continuation of the strong Fitch rating, which reflects the Authority’s history of sound fiscal management,” said Michael J. Sawaya, Executive Vice President of the Authority and President of the New Orleans Ernest N. Morial Convention Center. “This rating will be instrumental as we consider over half a billion in reinvestments into the Convention Center over the course of the next five years.”

About the Ernest N. Morial New Orleans Exhibition Hall Authority

The Ernest N. Morial New Orleans Exhibition Hall Authority’s (Authority) exclusive mission is to finance, construct and operate facilities in order to attract and conduct conventions, trade shows and other events that support and expand the economy of both the State of Louisiana and New Orleans Region. The Authority is composed of a 12-member board of commissioners, nine appointed by the Governor of Louisiana, and three appointed by the Mayor of New Orleans. Since 1985, event activity at the New Orleans Ernest N. Morial Convention Center has produced $85.7 billion in economic impact since its 1985 opening, including $5.4 billion in new tax revenue for state and local governments. 

About the New Orleans Ernest N. Morial Convention Center

With 1.1 million square feet of prime exhibit space, in an entirely contiguous hall, the New Orleans Ernest N. Morial Convention Center provides the largest single exhibit space in the country. The New Orleans Ernest N. Morial Convention Center features an award winning staff and first class amenities, and is the sixth largest convention center in the nation.  A consistent Top 10 host of the largest conventions and tradeshows in the nation annually, the Convention Center is also one of the city’s “Top Workplaces.” A leading contributor to the city’s robust tourism economy, the Convention Center’s event activity has produced $85.7 billion in economic impact since its 1985 opening, including $5.4 billion in new tax revenue for state and local governments. 

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