In the face of a deep recession that has prompted plunging cargo volumes and financial losses throughout the shipping industry, Moody’s Investor Service announced Friday that the Port of Tacoma has maintained its bond ratings.
Moody's maintained Aa3 and A1 ratings on the Port of Tacoma's Senior and Subordinate Revenue bonds, respectively, and an Aa3 on its General Obligation Limited Tax bonds.
“The outlook is stable,” the rating agency’s Feb. 5 report affirmed.
The annual report calls out the Port’s “stable revenue from long-term contracts, its important market position in the Pacific Northwest and the expectation of continued strong financial performance.”
Read the full report.
About the Port of Tacoma
The Port of Tacoma is an economic engine for South Puget Sound, with more than 43,000 family-wage jobs in Pierce County and 113,000 jobs across Washington state connected to Port activities. A major gateway to Asia and Alaska, the Port of Tacoma is among the largest container ports in North America. The Port is also a major center for bulk, breakbulk and project/heavy-lift cargoes, as well as automobiles and trucks.
Contact: Tara Mattina, Port of Tacoma, (253) 428-8674