Standard&Poor's Ratings Services assigned its 'AA' long-term rating to the Los Angeles Harbor Department, Calif.'s series 2011 senior-lien revenue refunding bonds. In addition, Standard&Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on the port's senior lien debt and 'A-1+' rating on the port's commercial paper (CP) program. The ratings are based on our view of the port's continued very strong business position, stable portfolio of assets, and excellent historical financial performance. These bonds are rated among the highest of all transportation-related bonds rated by Standard&Poor's. The rating further reflects our view of the port's: Dominant market position as the largest U.S. container port, with strong demand for its facilities as demonstrated by 7.8
