Jaxport retains stable credit rating
The port of Jacksonville, Florida’s largest container gateway, was pleased that Fitch Ratings recently confirmed the A rating of the port's approximately USD 130 million in outstanding revenue bonds. The credit rating agency issued the port with a ‘stable’ rating outlook.
Fitch said that Jaxport had managed to cope with the volatility created by the outbreak of Covid-19, and that the assessment reflects the port’s “versatile financial and operating position.” The agency added that the rating is supported by Jaxport’s growing automobile and container-handling activities, its diverse revenue base and its desirable location in southeastern USA.
Eric Green, the CEO of the Jacksonville port authority, pointed out that some “major projects, anchored by harbour deepening, will come online in the next 18 months.”