<\/p>\n
Port as primary gateway for Northern California region a key credit strength.<\/em><\/strong> \u201cThe rating reflects the Port\u2019s commitment to fiscal responsibility,\u201d said Port of Oakland Chief Financial Officer Julie Lam. \u201cThe credit strengths cited by Moody\u2019s highlights our unique revenue diversity and critical role in the Northern California economy.\u201d<\/p>\n Moody\u2019s cited several key strengths supporting the Port\u2019s credit rating:<\/p>\n \u201cSluggish post-pandemic maritime and aircraft volumes represent a modest credit headwind, but strong cost recovery in both enterprises will support future revenue stability,\u201d states Moody\u2019s. \u201cWhile seaport volume has not grown as much as the broader sector over the last two years, throughput remains relatively stable and seaport revenues are growing. Airport activity is recovering well and should continue to normalize in line with the broader sector.\u201d<\/p>\n Moody\u2019s indicated that key challenges include potentially new debt for an airport capital project, a planned reduction of cash over the next five years, and relative weakness in container volume. However, Moody\u2019s indicates that the Port is well positioned to manage these challenges.<\/p>\n Moody\u2019s stated that in their view, the Port\u2019s ability to manage or mitigate throughput volatility, along with its strong financial profile, positions the Port well to \u201cmaintain stable credit metrics going forward, and to withstand unexpected economic or other pressures that may arise.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":"
December 11, 2024
A boxship discharges cargo at the Port of Oakland (c) Port of Oakland
Port as primary gateway for Northern California region a key credit strength.\u00a0Moody\u2019s Investors Service, Inc. (Moody\u2019s) has maintained the Port of Oakland’s senior lien rating at A1 stable. The A1 stable senior bond rating reflects …<\/p>\n","protected":false},"author":1,"featured_media":53062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-53061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/53061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=53061"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/53061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/53062"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=53061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=53061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=53061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n December 11, 2024<\/span>
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\n <\/p>\n
\n A boxship discharges cargo at the Port of Oakland (c) Port of Oakland
\n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n
\u00a0
Moody\u2019s Investors Service, Inc. (Moody\u2019s) has maintained the Port of Oakland’s senior lien rating at A1 stable. The A1 stable senior bond rating reflects the Port\u2019s strong liquidity, healthy debt service coverage ratio, manageable capital spending and significant long-term debt capacity.<\/p>\n\n