S&P Global Raises Port of New Orleans’ Rating to ‘A’
NEW ORLEANS—March 27, 2019—S&P Global Ratings recently raised its ratings for the Port of New Orleans (Port NOLA) from an 'A-' to an 'A' with an outlook of stable.
Port NOLA’s President and CEO Brandy D. Christian attributes the success to the collective and collaborative effort by the Board of Port Commissioners and entire organization to manage debt effectively and efficiently, while continuing to grow business opportunities.
“This favorable rating from S&P reflects an ongoing commitment to fiscal stewardship and building strength through diversity of our business lines,” said Christian. “We serve as one of the region’s most important economic engines. This performance rating improvement validates our certainty that we as a public agency are on the right course.”
This upgrade should positively impact the cost of future borrowing as the Port invests in infrastructure and continues to expand.
A copy of the full S&P report can be read here.