Tampa gets "A" rating from Fitch

Port of Tampa said New York-based Fitch Ratings has affirmed an “A” rating of the port authority’s $151 million revenue bonds.
  

Additionally, Fitch provided the port authority with a ratings outlook of “stable.”
  

In a release issued by Fitch Ratings, the firm said financial operations at the port are stable and are supported by long-term leases and strong minimum annual guarantees in addition to an expanding revenue base.
  

Historically, the port relied on high-volume, low-value bulk cargoes such as phosphate and petroleum for the majority of its business. However, the port’s diversification over the last decade, including cruise activity and increased container operations, has enabled the port to expand its revenue mix.

 

(Source: American Shipper)