Port of Oakland Maintains Strong ‘A+’ and ‘A’ Credit Ratings

Port of Oakland Maintains Strong ‘A+’ and ‘A’ Credit Ratings

Port of Oakland Maintains Strong ‘A+’ and ‘A’ Credit Ratings Stable Port of Oakland outlook reflects financial strength due to diversified operations Oakland, Calif. - The Port of Oakland announced that Standard & Poor's (S&P) Global Ratings has maintained its strong credit rating, assigning an ‘A+’ rating to senior-lien bonds and an ‘A’ rating to intermediate-lien bonds, both with a stable outlook. The report highlights the Port’s varied revenue streams and relatively stable financial metrics, which continue to support operations. “Maintaining strong credit ratings is essential to our ability to invest in infrastructure and serve the region,” said Port of Oakland Executive Director Kristi McKenney. “This recognition reflects our disciplined financial management and the strength of our diversified business model.” Port revenues come from a mix of business lines, including aviation, maritime shipping, commercial real estate, and Port utility. This balance helps stabilize finances when one area slows. S&P noted that while Oakland San Francisco Bay Airport passenger volumes have declined in recent years, the impact to the Port has been mitigated by rate adjustments, non-airline revenues, and stable maritime cargo activity. The report also cited: Consistent maritime cargo volumes supported by a balanced mix of imports and exports Strong financial management and planning Solid cash reserves and manageable debt levels Looking ahead, the Port plans to invest in infrastructure through a long-term capital program, while maintaining financial performance measures in line with its current ratings. S&P said the stable outlook reflects expectations that the Port will continue to manage its finances carefully and maintain steady performance across its business lines. About the Port of Oakland The Port of Oakland generates vital economic activity, community benefits and environmental innovation, as the Port decarbonizes its operations for a cleaner and greener future. Along with its partners, the Port supports 98,345 jobs in the region and $174 billion in annual economic activity. The Port oversees Oakland San Francisco Bay Airport, the Oakland Seaport and nearly 20 miles of waterfront including Jack London Square, and a publicly owned utility. The Port of Oakland is Everyone’s Port! Connect with the Port of Oakland and Oakland San Francisco Bay Airport through Facebook and Twitter, or with the Port on LinkedIn, YouTube, and at www.portofoakland.com.
via YouTube https://www.youtube.com/watch?v=YbxyTVQCwRc