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August 11, 2015 |
Finance: Halifax
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Standard & Poor’s affirms Halifax Port Authority’s Credit Rating of ‘A ,’ Outlook Stable
Standard & Poor’s has affirmed Halifax Port Authority’s investment-grade credit rating of ‘A ,’ outlook stable.
The rating reflects S&P’s assessment of the port authority’s stand-alone credit profile (SCAP) as evidence of a "healthy operating and financial performance" and what it considers a "moderately high likelihood that the federal government would provide support in the event of financial distress."
S&P’s also takes note of the port’s strategic location, its naturally deep, ice free harbor and supporting infrastructure, strong business position and the stability of the port authority’s revenue base.
"The diverse revenue streams at the Port of Halifax help to provide long term stability," explains Senior Vice President Paul MacIsaac of the Halifax Port Authority. "Our diversification strategy involves the development of all core business lines – cargo, cruise and real estate."
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