S&P Global Ratings assigned its 'AA' rating to the Los Angeles Harbor Department, Calif.'s $196 million series 2016 senior-lien refunding revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the port's debt outstanding. The outlook is stable. 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 S&P Global Ratings. The ratings further reflect 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 8.2 million 20-foot equivalent units (TEUs)
