Moody's rates Port of Tacoma bonds A1

Moody's Investors Service said it assigned an A1 rating to the Port of Tacoma, Wash.'s $133 million subordinate-lien revenue bonds, series 2008B. The outlook is stable.

Sale of the bonds was expected on June 30.

Moody's also affirmed the Aa3 rating on $201.3 million of outstanding senior-lien debt and $208.2 million of outstanding G.O. debt.

The rating reflects the port's stable market position, extensive revenue from long-term contracts, and history of strong financial performance, the agency said.

Proceeds of the bonds will be used to provide funds to finance the port's capital improvement program.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.