Standard & Poor's Affirms Port Bonds' High Rating
July 7, 2011
The Port of Long Beach has once again earned high marks from bond rating firm Standard & Poor's, reflecting the Port's strong financial profile.
Standard & Poor's maintained the Port’s long-term bond rating at 'AA' with a stable outlook. The firm also affirmed a 'A-1+' rating for the Port's short-term, commercial paper. A high credit rating recognizes good financial management by the Port and keeps the cost of borrowing lower as the Port begins $4 billion in capital improvements over the next decade.
“The stable outlook reflects our expectation that financial metrics will remain strong and liquidity will remain good,” the rating firm said.
For more information on Standard & Poor's go to http://www.standardandpoors.com/. Click here to download a copy of the report.