S&P affirms Alexander & Baldwin

Standard & Poor's said it affirmed its ratings on Alexander & Baldwin Inc., including the A- long-term corporate credit rating.

At the same time, the agency said that it affirmed its A- long-term corporate credit rating on Alexander & Baldwin subsidiary Matson Navigation Co. Inc.

The outlooks on both entities remain stable.

"Ratings on Alexander & Baldwin and Matson reflect a strong competitive position in ocean shipping, favorable real estate asset quality and solid financial profile, offset somewhat by risks associated with significant investment requirements and concentrated end-market demand," said S&P credit analyst Funmi Afonja.

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