CVG bond rating upgraded
Moody’s Investors Service has upgraded the outlook of the Cincinnati/Northern Kentucky International Airport’s (CVG) $44 million of Series 2016 bonds from stable to positive and affirmed the A2 rating previously set in March of 2016. Moody’s stated that the rating reflects strong growth in passenger and cargo volumes over the last five years at CVG.
Moody’s also pointed out as positives: improvements in cost per enplanement, debt service coverage and liquidity, very low debt burden and limited constraints on growth.
“CVG is experiencing a lot of positive change, including growing our passenger traffic by more than 31 percent over the last two years, diversifying our carrier base and strengthening our position as the lowest-fare airport in the region,” said Candace McGraw, CEO, CVG. “Also, cargo tonnage has grown more than 50 percent over the last two years and we’re now the 8th largest cargo airport in North America. These successes are being noticed and reflected in our solid financial profile.
In 2016, CVG transitioned from a full residual airline agreement to a new five-year hybrid airline agreement. Moody’s noted that CVG’s liquidity due to strong activity levels and increased revenue retention under the new agreement were key contributors to the revised outlook from stable to positive.
Charlie Vance named to national board
The National Association of Professional Employer Organizations (NAPEO) announced today that NAPEO’s member companies have elected Charlie Vance, CEO of Erigo Employer Solutions, to the association’s Board of Directors.
Vance
Vance is among 10 new PEO industry leaders to serve on the association’s Board of Directors for the 2018‐2019 term. NAPEO membership elected the new slate of candidates on September 6, 2018, during NAPEO’s Annual Conference and Marketplace in Phoenix, Arizona.
Vance joined the company at its founding in 2011. The Northern Kentucky‐based PEO has been recognized numerous times by the local chamber of commerce as one of the regions fasted growing companies.
The National Association of Professional Employer Organizations has some 250 PEO members that provide payroll, benefits, and other HR services to 175,000 businesses employing 3.7 million people. An additional 200 companies that provide services to PEOs are associate members of NAPEO. For more information, please visit www.napeo.org.
CTI’s Earley promoted to Chief International Business Officer
Covington-based CTI Clinical Trial and Consulting Services (CTI), has announced the promotion of Patrick J. Earley to Chief International Business Officer.
CTI is a multi-national, privately held, full-service contract research organization
Earley
“Since joining CTI more than ten years ago, Pat has been instrumental in our geographic expansion outside of North America, including managing acquisition opportunities, technology, real estate, as well as recruitment and management of personnel,” said Timothy J. Schroeder, Chief Executive Officer. “We are thrilled to have him join the executive team and continue to lead our global expansion strategy and execution.”
Earley served most recently as Vice President, International, leading the strategic global expansion and oversight in regions including Europe, Latin America, Asia-Pacific and Middle East/Northern Africa. He was instrumental in CTI’s most recent acquisition of Eurotrials and the integration of their operations and staff.
Prior to joining CTI, Early held positions in the healthcare and insurance industries, with MetLife and First Health. Earley received his Bachelor of Science in Business Administration from West Liberty State College and his Master of Business Administration in Finance from Xavier University.
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