Fitch: U.S. Ports Remain Low Risk, Weather Volume Volatility

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Peer Review of U.S. Ports (Attribute Assessments, Metrics and Ratings)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=870033

Stand-alone U.S. port ratings remain largely in the 'A' category despite volume fluctuations during economic downturns, according to a new Fitch Ratings report.

'Approximately 95% of port sector ratings currently have Stable Outlooks, demonstrating the relatively low credit risk and the resilience of port cash flows,' said Emma Griffith, Director in Fitch's Global Infrastructure Group.

Fitch upgraded the rating on two ports during the past 12 months (Virginia Port Authority to 'A+' and Alabama State Port Authority to 'A-') as well as revised the Rating Outlook on one port to Positive (Hillsborough County Port District).

Highest rated ports are typically those with a strong underlying market or franchise driving demand, overall stability of cash flows through contractual agreements, or tariff policy and healthy financial metrics. Conversely, weakest rated ports include those serving markets with competition for cargo, less contractual protection for revenues, or thinner financial metrics.

The report 'Peer Review of U.S. Ports' is available at 'www.fitchratings.com' or by clicking on the above link.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150914006280/en/

Fitch Ratings
Emma Griffith
Director
+1-212-908-9124
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Seth Lehman
Senior Director
+1-212-908-0755
or
Emma Chapman
Associate Director
+1-312-368-2063
or
Matthew Chou
Analyst
+1-415-732-7576
or
Media Relations:
Sandro Scenga, +1-212-908-0278
[email protected]

Source: Fitch Ratings

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