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Long Beach wins top Fitch rating plus big environmental award
来源： 编辑：编辑部 发布：2018/05/24 09:02:39
FITCH Ratings has affirmed the 'AA' rating on US$993 million in senior lien Port of Long Beach harbour revenue bonds and notes issued by the City of Long Beach, California.
This news comes on the heels of an announcement of the Port of Long Beach's top rating as an environmentally rigorous harbour. having been named Best Green Seaport ahead of all rivals.
The award with received at a recent Shanghai gala from Asia Cargo News by the port's representative in Asia, Edward Yau. before a gathering of 230 notables from the transport and logistics field.
The Fitch rating affirmed Long Beach's ¡¥AA' rating on the outstanding but yet to be drawn $325 million subordinate TIFIAloan. The Rating Outlook on all bonds is Stable.
"The ratings reflect the port's strong market position, with resilient revenues from long-termcontractual guarantees that are sufficient to cover both the port's outstanding senior debtobligations and the subordinate TIFIA loan when issued." said the Fitch press release.
"Contractual guarantees should continue to provide revenue stability as the port proceeds with borrowing for its sizable $2.5billion long-term capital improvement plan. This plan, while costly, willhelp ensure the port's competitive position going forward," it said.
This news comes on the heels of an announcement of the Port of Long Beach's top rating as an environmentally rigorous harbour. having been named Best Green Seaport ahead of all rivals.
The award with received at a recent Shanghai gala from Asia Cargo News by the port's representative in Asia, Edward Yau. before a gathering of 230 notables from the transport and logistics field.
The Fitch rating affirmed Long Beach's ¡¥AA' rating on the outstanding but yet to be drawn $325 million subordinate TIFIAloan. The Rating Outlook on all bonds is Stable.
"The ratings reflect the port's strong market position, with resilient revenues from long-termcontractual guarantees that are sufficient to cover both the port's outstanding senior debtobligations and the subordinate TIFIA loan when issued." said the Fitch press release.
"Contractual guarantees should continue to provide revenue stability as the port proceeds with borrowing for its sizable $2.5billion long-term capital improvement plan. This plan, while costly, willhelp ensure the port's competitive position going forward," it said.