A Milestone in Financial Excellence: New Orleans Exhibition Hall Authority Assigned Aa3 Ratings from Moody’s

The Aa3 ratings reflect the authority’s effective financial management, robust reserves, and resilient local economy.

The Ernest N. Morial New Orleans Exhibition Hall Authority (the Authority) affirmed an Aa3 issuer rating from Moody’s Ratings, reflecting the Authority’s credit quality and ability to repay debt and debt-like obligations without consideration of any pledge, security or structural features. Moody’s also confirmed the Authority’s special tax ratings of Aa3, highlighting the Convention Center’s stable financial operations, strong performance and solid management team.

 

In December 2025, Moody’s Investors Service revised its rating criteria applicable to the Authority. The criteria now aims to evaluate the Authority’s overall creditworthiness, separate and apart from any particular debt issuance, taking into account the Authority’s budgetary/financial performance as well as broader economic conditions. After recently concluding a rating review under Moody’s new criteria, the Authority’s credit ratings on all of its outstanding debt were confirmed at ‘Aa3’.  This rating is based on the Authority’s “strong” financial performance, scoring at the highest level of Moody’s criteria in this category. Also supporting this rating is Moody’s view of the Authority’s stable operations and “strong” management team.

 

Moody’s rating affirms the Authority’s sound financial management and low risk profile. The Authority ended the 2024 fiscal year with available reserves exceeding 50% of revenue and maintains significant restricted reserves available for operations, debt service or capital projects, if needed.

 

“The Aa3 rating from Moody’s underscores the Authority’s sound financial management and long-term stability,” said Alita Caparotta, Chief Administrative Officer of the New Orleans Ernest N. Morial Convention Center. “It reflects the dedication of our team and the prudent governance of the Ernest N. Morial Exhibition Hall Authority, ensuring the Convention Center remains financially resilient, operationally efficient, and well-positioned to serve the event industry.”

 

The rating reflects the success of the Greater New Orleans economy, supported by steady tourism and economic growth over the years. The Authority’s long-term liabilities remain manageable at approximately 217% of fiscal 2024 revenue, supported by a strong capital plan.

 

In addition to its financial strength, the Convention Center is advancing major facility investments. The planned Omni New Orleans project is expected to generate $15.2 million in combined state and local tax revenue annually, while the $763 million Capital Improvement Plan is enhancing the Convention Center to attract larger events and boost the city’s economic impact.

 

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 13-member board of commissioners, ten 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 $93.2 billion in economic impact since its 1985 opening, including $5.7 billion in new tax revenue for state and local governments.

 

About the New Orleans Ernest N. Morial Convention Center

New Orleans is Built to Host! With 1.1 million square feet of prime exhibit space on one level, all under one roof, NOENMCC is the sixth largest Convention Center in the United States and provides the largest single exhibit space in the country. NOENMCC is a 2023 IAVM Venue Excellence recipient and is consistently named a regional top workplace by The Times-Picayune/The New Orleans Advocate. Our recent LEED Gold certification makes NOENMCC the largest LEED-certified project in Louisiana and the largest convention center project in the U.S. certified under LEED v4.1 Operations and Maintenance, as well as the first convention center in the world to be awarded initial certification under LEED Gold v4.1 O+M. A leading contributor to the city’s robust tourism economy, NOENMCC event activity has produced $93.2 billion in economic impact since its 1985 opening.

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