...SAN FRANCISCO (Standard & Poor's) Sept. 11, 2015--Standard & Poor's Ratings Services assigned its '##' rating to the Los Angeles Harbor Department, Calif.'s $38.7 million 2015 series A senior-lien refunding bonds. At the same time, Standard & Poor's affirmed its '##' long-term rating and underlying rating (SPUR) on the port's debt outstanding. The outlook is stable. "The ratings are based on our view of the port's continued very strong business position, stable portfolio of assets, and excellent historical financial performance," said Standard & Poor's credit analyst Mary Ellen Wriedt. "These bonds are rated among the highest of all transportation-related bonds rated by Standard & Poor's." The stable outlook reflects our anticipation that the port's operational trends and financial performance will remain strong, that discretionary and restricted reserves will be sound, and that coverage of outstanding debt obligations will be very strong. Although unexpected, a deterioration in the port's...
