JOC Staff | Dec 18, 2012 9:42AM EST
Moody’s Investors Service has affirmed an "A1" rating for the South Carolina Ports Authority’s outstanding debt.
The ratings update noted the SCPA’s competitive advantages, such as proximity to open ocean, diverse and productive operations, favorable financial performance and a deep-water harbor that will be “well-positioned” after the Panama Canal expansion is complete.
The rating on $170 million in outstanding port revenue bonds takes into consideration the port’s growth outlook and capital program to implement $1.3 billion in infrastructure improvements over the next decade.