...Extent of Report: This criteria report evaluates debt issued by maritime ports across the globe and applies both to whole port enterprises and single/multiterminal facilities with an operational history that may be under a variety of ownership models. This criteria report also applies to enterprises that own port facilities in multiple locations. Application of Criteria: The port criteria is intended to include debt borrowings with a broad revenue pledge (i.e. entire operating revenues from the port enterprise) as well as those that have more limited revenue streams such as facility leases. The criteria applies to both new ratings and surveillance of existing ratings. This criteria report may supplement other relevant Fitch Ratings' criteria when rating financings that are secured substantially by ad-valorem taxes, general corporate financings not premised on asset-specific analyses, port-related real estate transactions, and structured/securitized financings. Evaluation of Attributes:...
