California's Port of Long Beach maintains strong Fitch AA bond rating
FITCH Ratings, America's No 3 credit agency, has affirmed the Port of Long Beach's AA rating on its outstanding debt, reports the American Journal of Transportation.
Fitch stated the AA rating - its highest for US ports - was warranted due to the port's strong market position, resilient, long-term revenues from tenants and its robust ability to service its debt.
The rating agency reported that the Port's US$3.2 billion capital improvement programme through fiscal year 2026 ensures a competitive position in the future.
"Strong financial metrics" and "considerable liquidity" are expected throughout the plan's duration.
The agency affirmed the AA rating for $867.6 million in outstanding bonds and an AA- rating on an existing, yet to be issued $325 million Transportation Infrastructure Finance and Innovation Act loan.
FITCH Ratings, America's No 3 credit agency, has affirmed the Port of Long Beach's AA rating on its outstanding debt, reports the American Journal of Transportation.
Fitch stated the AA rating - its highest for US ports - was warranted due to the port's strong market position, resilient, long-term revenues from tenants and its robust ability to service its debt.
The rating agency reported that the Port's US$3.2 billion capital improvement programme through fiscal year 2026 ensures a competitive position in the future.
"Strong financial metrics" and "considerable liquidity" are expected throughout the plan's duration.
The agency affirmed the AA rating for $867.6 million in outstanding bonds and an AA- rating on an existing, yet to be issued $325 million Transportation Infrastructure Finance and Innovation Act loan.