...S&P Global Ratings affirmed its 'A' long-term rating on the San Francisco City and County Port Commission's revenue bonds, issued for the Port of San Francisco. The outlook is stable. The rating reflects the application of our "U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises" criteria (published March 12, 2018 on RatingsDirect). The rating reflects our opinion of the port commission's strong enterprise risk and financial risk profiles. Our enterprise risk profile assessment reflects our view of the port commission's extremely strong economic fundamentals and strong market position. Our financial risk profile assessment reflects our view of the port commission's debt service coverage (DSC; per our calculations) that we expect to remain at levels that we consider very strong over the next three years, its extremely strong debt capacity, and its very strong liquidity and financial flexibility, offset partly by its very large capital plan and deferred maintenance....
