Ratings authorities give high marks to Port's revenue bond - KUAM.com-KUAM News: On Air. Online. On Demand.

Ratings authorities give high marks to Port's revenue bond

Posted: Jun 14, 2018 5:33 PM Updated:

The Port Authority's first-ever revenue bond gets high marks from ratings agencies Moody's and S&P. GEDA says together the ratings are the highest-ever for a local autonomous agency.

The $72.6 million bond issue was assigned a BAA-2 Negative outlook rating by Moody's, which said on its website that the rating is supported by the  strong competitive position as Guam's sole commercial port handling around 90% of the cargo including a significant portion of military cargo. But Moody's says the negative outlook is because while the port operates fairly independently from the government, it expects that it would not be able to disconnect itself from any material financial stress at the government level.

S&P assigned an "A" rating based on "The authority's strong financial performance, very strong debt and liabilities capacity and strong liquidity and financial flexibility."

  • NEWS HEADLINESMore>>

  • Guam Kmart not closing despite bankruptcy

    Guam Kmart not closing despite bankruptcy

    KMART on Guam is not on the list of stores that Sears Holdings has scheduled to close. The store previously reported in the Wall Street Journal as the chains busiest is said to be sticking around after Sears filed for Chapter 11 bankruptcy this week. But,More >>
    KMART on Guam is not on the list of stores that Sears Holdings has scheduled to close. The store previously reported in the Wall Street Journal as the chains busiest is said to be sticking around after Sears filed for Chapter 11 bankruptcy this week. But,More >>
  • Lou Leon Guerrero, Ray Tenorio appear at Guam Contractors Association forum

    Lou Leon Guerrero, Ray Tenorio appear at Guam Contractors Association forum

    With less than three weeks left until the general election, the political forums are coming early and often. Wednesday saw two of the gubernatorial teams face off before the Guam Contractors Association. Democrat Lou Leon Guerrero and Republican Ray TenorMore >>
    With less than three weeks left until the general election, the political forums are coming early and often. Wednesday saw two of the gubernatorial teams face off before the Guam Contractors Association. Democrat Lou Leon Guerrero and Republican Ray TenorMore >>
  • Woman robbed in broad daylight in Tumon

    Woman robbed in broad daylight in Tumon

    A woman was robbed in broad daylight while walking in Tumon by the Royal Orchid Hotel. Police spokesperson Paul Tapao says at around 10:30 Monday morning, a man wearing a red shirt and blue shots walked pass the victim and grabbed her purse from behind.More >>
    A woman was robbed in broad daylight while walking in Tumon by the Royal Orchid Hotel. Police spokesperson Paul Tapao says at around 10:30 Monday morning, a man wearing a red shirt and blue shots walked pass the victim and grabbed her purse from behind. More >>
Powered by Frankly