S&P Global Ratings revised the outlook to stable from positive and affirmed its 'AA+' long-term rating on the Los Angeles Harbor Dept .'s (the Port of Los Angeles, PoLA, or the port) revenue bonds outstanding. The outlook revision reflects our view that within our two-year outlook period the port?s forecast financial metrics—particularly, debt service coverage (DSC)--could fluctuate given the ongoing trade disputes between the U.S. and China, with recent, significant increases in tariffs. The outstanding revenue bonds are secured by a senior lien on port net revenues. The Port of Los Angeles operates as a landlord port; port container tenants perform all cargo-handling activities and pay the department tariff charges pursuant to long-term lease agreements. Administered by an executive director,
