NY -- Standard&Poor's CreditWire 10/14/98 – Standard&Poor's today assigned its 'A-1'-plus rating to Port of Oakland, Calif.'s $150 million commercial paper notes due Oct. 1, 2028. The notes are scheduled to sell Oct. 14, 1998. The rating on is based on an LOC provided severally by Commerzbank AG and The Bank of Nova Scotia. The LOC covers $150 million in principal and up to 90 days of interest calculated at a rate of 12%. The notes may be issued with maturities of up to 270 days, but may not mature later than the termination date of the LOC. The issuing and paying agent may not deliver notes if such delivery would cause the aggregate principal amount
