SAN FRANCISCO (S&P Global Ratings) Sept. 2, 2016--S&P Global Ratings assigned its 'AA' rating to the Los Angeles Harbor Department, Calif.'s $196 million series 2016 senior-lien refunding revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA' 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 S&P Global Ratings credit analyst Mary Ellen Wriedt. These bonds are rated among the highest of all transportation-related bonds rated by S&P Global Ratings. The bonds are secured by a senior lien on port revenues.
