Summary: Port Of New Orleans Board Of Commissioners, Louisiana; Ports/Port Authorities
- ID: 1771606
- Region: Louisiana
- Standard & Poors
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services revised its outlook to stable from negative and affirmed its 'BBB+' underlying rating (SPUR) on the Port of New Orleans Board of Commissioners, La.'s port facility revenue bonds issued for the Port of New Orleans. The stable outlook reflects our view of the rebound in the port's operations and financial capacity in fiscal 2010 and an expectation that financial margins will continue to improve in 2011. In addition, the port has maintained a relatively good liquidity position. In our opinion, the rating reflects the port's position as one of the largest break-bulk ports in the nation, with strong intermodal access. More specifically, we believe the 'BBB+' rating reflects the following credit concerns: The port's business...
Companies mentioned in this report are: Port of New Orleans Brd of Commissioners
Action: Outlook: Stable
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