The 'AA+' rating on Port of Houston Authority, Texas' bonds reflects the full faith and credit tax pledge of the authority, which is coterminous with Harris County. The rating also reflects: Continued improvement in the authority's financial position; Ongoing expansion and diversification of the underlying tax base; The port's status as one of the premier ports in the country; Sound port operations and financial condition; and Manageable direct debt burden, with a substantial authorized capital program. The Port of Houston Authority operates and leases public facilities at the Port of Houston on the Houston Ship Channel. The authority has been authorized by the voters of Harris County on several occasions to issue unlimited tax GO bonds for port improvements, and...
Companies mentioned in this report are:
- Port of Houston Auth
Action: New Rating
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