...August 30, 2024 SAN FRANCISCO (S&P Global Ratings) Aug. 30, 2024--S&P Global Ratings revised its outlook to positive from stable and affirmed its '##+' long-term rating on the Los Angeles Harbor Dept.'s (the Port of Los Angeles, PoLA, or the port) revenue bonds outstanding. At the same time, S&P Global Ratings assigned its '##+' rating, with a positive outlook, to PoLA's estimated and combined $219 million series 2024A-C refunding revenue bonds. "The outlook revision reflects our view that we could raise the rating within our two-year outlook period if the port can achieve its forecast financial metrics--debt service coverage, liquidity, and debt position--and sustain them while not experiencing any material erosion to its extremely strong market position given the ongoing trade disputes between the U.S. and China," said S&P Global Ratings credit analyst Kevin Archer. The rating reflects our opinion of the port's dominant market position and essentiality to the national and regional economy,...
