Standard&Poor's Ratings Services affirmed its 'AA' rating on the Port of Los Angeles, Calif.'s outstanding $744 million senior-lien revenue bonds, issued for the Los Angeles Harbor Department. The rating is based on the port's continued very strong business position, stable portfolio of assets, and excellent historical financial performance. This rating is among the highest of all Standard&Poor's transportation-related enterprises. The port's specific credit strengths include: A dominant market position as the largest U.S. container port, with strong demand for its facilities as demonstrated by 8.6 million cargo containers (20-foot equivalent units, or TEUs, a standard linear measurement of container traffic flows) handled during fiscal 2007; Excellent debt service coverage at 4.2x in fiscal 2007, and coverage
