Moody’s Investors Service Affirms Port of Palm Beach’s Baa3 Rating, Upgrading Rating Outlook

Moody’s Investors Service revised the Port of Palm Beach’s rating outlook to positive from stable and affirmed the District’s Baa3 rating. The positive outlook recognizes the Port’s sustained financial improvement due to successful contract renewals with its largest tenants that now extend through the maturity of the Port’s outstanding debt. The outlook reflects Moody’s expectation that margins will continue to be on par with those experienced over the last four fiscal years, supported by tenant minimum annual revenue guarantees that improve the Port’s cash flow predictability. Click here to read more.