SAN FRANCISCO (Standard&Poor's) July 15, 2002--Standard&Poor's said today that it assigned its single-'A'-plus rating to the Port of Oakland, Calif.'s almost $604 million in revenue bonds based on the port's revenue diversity, historic cash flow strength, and the importance of the port's maritime and airport facilities. The bonds are scheduled to sell on July 24. Standard&Poor's also said that it affirmed its single-'A'-plus underlying rating on the port's $847 million in outstanding debt. The outlook on all of the bonds is stable. "The $1.2 billion capital plan requires a substantial amount of new debt," said credit analyst Kathryn Mock, but she added "revenues will still cover any given year's debt service by at least
