Jaxport gets æAÆ bond rating from Fitch
Fitch Ratings has assigned an 'A' rating to the Jacksonville Port Authority's $45.9 million series 2006 port revenue refunding bonds, reflecting the current financial stability of the port, Jaxport officials said Tuesday.
The ports said the Rating Outlook on the authority’s revenue bonds is Stable.
'The 'A' rating reflects the port’s stable cargo trends, its sound and conservative financial profile and the historical support afforded by the City of Jacksonville and the State of Florida for both operations and capital project funding,' a statement from the port said. 'Credit risks center on the extremely competitive nature of cargo trade in the Southeast, relatively light levels of liquidity, as well as the port’s historical reliance on trade with Latin America and the Caribbean.'
The series 2006 bonds are scheduled for negotiated sale by UBS Investment Bank during on or about Oct. 31, and have a final maturity of Nov. 1, 2018.
Jaxport gets ?A? bond rating from Fitch
