Standard & Poor’s Ratings Services has raised the credit rating for Charleston County Aviation Authority from A- to A.

The upgrade reflects the authority’s strong financial position and will allow it to borrow money at lower interest rates for the $150 million terminal redevelopment project, according to Airports Director Sue Stevens.

The airport will begin expansion and renovation work soon that will include six new gates, consolidated security, a third baggage carousel, a rental car pavilion, a dome over the lobby, relocated administrative offices, and other changes.