Standard&Poor's Ratings Services assigned its 'AA' rating to the Los Angeles Harbor Department, Calif.'s $200.0 million series 2009A and B revenue bonds and $550.0 million series 2009C refunding revenue bonds, issued for the Port of Los Angeles. Additionally, Standard&Poor's affirmed its 'AA' rating and underlying rating (SPUR) on the port's currently outstanding $740.0 million senior-lien revenue bonds. 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. These bonds are rated among the highest of all transportation-related bonds that Standard&Poor's rates. The Port of Los Angeles' specific credit strengths include our view of: A dominant market position as the largest
