Adam J. Whiteman
Managing Director
adamwhiteman@frascallc.com
Mr. Whiteman specializes in the financing and structuring of airport,
seaport and toll road projects with a special emphasis on credit.
Mr. Whiteman has worked for over 20 years in the fields of airport
credit and municipal government. Prior to joining Frasca & Associates,
he was Senior Vice President and lead airport analyst with Moody's
Investors Service. During his 16 years with Moody's, Mr. Whiteman
authored many seminal publications on the topic of airport finance and
credit. As a member of rating committee he has participated in the
ratings of over 200 transportation issuers on five continents.
Mr. Whiteman's experience as an airport analyst with Moody's Investors
Service afforded him the unique perspective of working with a wide variety
of transportation issuers operating under different regulatory, political
and economic regimes. During his tenure at Moody's he was the principal
analyst for most of the major US airports including, Miami, Denver,
Massport, Chicago O'Hare, Los Angeles, San Diego, Phoenix, Albuquerque, DFW,
Philadelphia, MWAA, Hawaiian Airport System, San Francisco, Salt Lake City,
Oakland and San Jose. He also worked on many unique structures including
the first PFC backed debt, LOI debt, car rental facility, cargo facilities
and privatized terminal facilities including the International Arrivals
Terminal and Terminal One Group Associates at JFK. As a leading expert in
the field Mr. Whiteman has opined on the financial and credit aspects of
airport policy and legislative initiatives at the request of senior officials
in the FAA.
Mr. Whiteman's international experience has afforded him valuable insights
into airport finance and privatization efforts around the world. He was the
lead analyst for Toronto, Ottawa, Montreal and Edmonton airports and NavCanada
in Canada and had frequent interaction with Transport Canada officials. His
European clients included BAA and Amsterdam Schiphol Airports, both of which
were at the forefront of airport privatization efforts globally. His Latin
American and Caribbean experience included Santiago Chile, Aruba Airport
Authority and the international terminal at Mexico City's International Airport.
He also covered the Israel Airports Authority and worked on the initial ratings
for a number of Australian airports. Many of these non-US airports were financed
using structures that are relatively uncommon in the US.
Mr. Whiteman received a B.A. in Biological Sciences from Queens College and a
M.A. in Urban Affairs and Policy Analysis from the New School for Social Research.
He is fluent in both English and Spanish.
