SAN FRANCISCO (Standard&Poor's) Aug. 24, 2004--Standard&Poor's Ratings Services revised its rating outlook to stable from positive on Los Angeles Harbor Department, Calif.'s outstanding debt, based on Standard&Poor's present view of the new operating environment and exposure to risk in the port sector and transportation sectors in general. Additionally, Standard&Poor's affirmed its 'AA' rating on the department's outstanding $748 million senior lien revenue bonds, based on the Harbor Department's Port of Los Angeles' continued very strong business position, stable portfolio of assets, and excellent historical financial performance. "We expect that the operational trends and financial performance will continue to demonstrate the port's dominant business profile, sound levels of discretionary and restricted reserves, and
