The 'AA' rating on Los Angeles Harbor Department, Calif.'s refunding revenue bonds reflects: A very strong business position, A stable portfolio of assets, and Strong historical and forecast financial performance and liquidity levels. This is the highest credit rating Standard&Poor's has placed on a U.S. port, and it is among the highest rated of all transportation-related enterprises. Security for the bonds is a lien on the revenues of the port's harbor revenue fund. The Harbor Department's Port of Los Angeles' specific credit strengths include: A dominant market position as the largest U.S. container port, with strong demand for its facilities as demonstrated by 4.9 million cargo containers (twenty-foot equivalent units (TEUs), a standard linear measurement of container traffic
