The San Diego Unified Port District said two major credit rating agencies, Fitch Ratings and Standard & Poor’s, assigned an A+ rating to $19 million in revenue refunding bonds that will be issued next month.
In addition, both agencies affirmed the A+ rating on $39.2 million in outstanding revenue bonds the port district issued in 2004.
The ratings on all the port bonds are “stable,” up from the prior rating by S&P of “negative,” the port district said.
The port said it sustained revenue declines in the recession, but moderate growth has occurred in recent years, and that trend is forecast to continue.
— SDBJ Staff Report