Guam – Credit ratings agency S&P Global has given the Port Authority of Guam’s revenue bonds an “A” rating.
The rating was assigned to the Port’s proposed $72.6 million series 2018 port revenue bonds to finance capital improvement projects.
Adelup touts this “unprecedented” rating as the highest rating assigned to the Port.
Meanwhile, it was a different tone for another credit ratings agency, Moody’s, which gave the Port’s same revenue bonds a negative outlook.
Moody’s assigned a first time Baa2 rating to the Port’s proposed revenue bond, tying it to the overall GovGuam outlook. In March, the credit ratings agency also changed the outlook of GovGuam’s Ba1 issuer rating from stable to negative.
The change in the outlook came amid a fiscal crisis facing the island as a result of the Trump Tax Cuts.