Summary: Port of Oakland, California; Ports/Port Authorities

S&P Global Ratings affirmed its 'A+' long-term rating on the Port of Oakland, Calif.'s (the port) senior-lien revenue bonds as well as its 'A' long-term rating on the port's intermediate-lien revenue bonds, and removed the ratings from CreditWatch, where they had been placed with negative implications on Aug. 7, 2020. At the same, S&P Global Ratings assigned its 'A+' rating to the port's pro forma $338.6 million series 2020R senior-lien refunding revenue bonds (taxable) as well as its 'A' rating to the port's pro forma $197.9 million series 2021H intermediate-lien refunding revenue bonds (forward delivery). The outlook is negative. The port, along with many other U.S. airport ratings, was placed on CreditWatch to reflect the material negative impact of the

...S&P Global Ratings affirmed its 'A+' long-term rating on the Port of Oakland, Calif.'s (the port) senior-lien revenue bonds as well as its 'A' long-term rating on the port's intermediate-lien revenue bonds, and removed the ratings from CreditWatch, where they had been placed with negative implications on Aug. 7, 2020. At the same, S&P Global Ratings assigned its 'A+' rating to the port's pro forma $338.6 million series 2020R senior-lien refunding revenue bonds (taxable) as well as its 'A' rating to the port's pro forma $197.9 million series 2021H intermediate-lien refunding revenue bonds (forward delivery). The outlook is negative. The port, along with many other U.S. airport ratings, was placed on CreditWatch to reflect the material negative impact of the COVID-19 pandemic on traffic levels, expected financial performance metrics, and overall credit quality. For more information, see "U.S. Airport Ratings Placed On CreditWatch Negative On Severe Passenger Declines And Weakening Credit...

Summary