Port of Seattle bonds get AA credit ratings
Three Wall Street bond rating agencies have awarded favorable ratings to bonds due to be issued on Jan. 27 by the port of Seattle.
Standard and Poor’s and Fitch Ratings gave the bonds a rating of AA+, the port reported. Moody’s Investor’s Service rated them Aa1.
The Pacific Northwest port will issue $293 million of general obligation bonds to fund capital improvements on the waterfront. They will finance improvements to container handling facilities at terminals 46 and 18 in the port, as well as upgrades to piers and docks at Terminal 91 and Fishermen’s Terminal.
“The ratings reduce financing costs for our airport and seaport investments,” said Paige Miller, president of the port commission of Seattle.