Standard & Poor’s Affirms Halifax Port Authority’s A+ Credit Rating

Rating agency Standard & Poor’s has affirmed investment-grade credit rating of  A+ with a stable outlook for Canada’s Halifax Port Authority. 

The stable outlook reflects the agency’s view of the authority’s prudent financial management to date and the expectation that it will not issue significantly more debt in the next two years than it assumes in its current capital plan.

Standard & Poor’s also expects that the authority will continue to record moderate cargo and revenue growth in the two-year outlook horizon, as well as produce strong annual debt service coverage ratios of about 15x despite its debt peaking in 2015.

The ratings also reflect the agency’s opinion of a “moderately high” likelihood that the federal government of Canada would provide extraordinary support in the event of financial distress.

”The diverse revenue streams at the Port of Halifax help to provide long term stability,” said Paul MacIsaac, Senior Vice President, Halifax Port Authority.

”Our diversification strategy involves the development of all core business lines – cargo, cruise and real estate.”

Share this article

Follow World Maritime News

In Depth>


<< Jul 2019 >>
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >