SAN FRANCISCO (Standard&Poor's) June 29, 2009--Standard&Poor's Ratings Services assigned its 'A-1+' short-term rating to Los Angeles Harbor Department , Calif.'s $100.0 million commercial paper (CP) program. The rating on the CP program reflects our assessment of a senior lien on the port's revenues, the port's strong long-term credit quality, and liquidity provided by a line of credit. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the port's outstanding $944.0 million senior-lien revenue bonds (including the series 2009A and B bonds which are expected to close in July). The ratings on the long-term bonds are based on our view of the port's continued very strong business position, stable
