S&P Global Ratings affirms Halifax Port Authority’s A+ Credit Rating

July 26, 2018 – Halifax, N.S. – S&P Global Ratings has affirmed Halifax Port Authority’s investment-grade credit rating of ‘A+’ as strong operational and financial performance continues.

The report states, “HPA’s managerial and governance, in our view, is very strong, helping the authority consistently meet its operational and financial goals. We believe management is experienced and has strong knowledge of the markets and industry in which the authority operates.” The report goes on to state, “Our assessment of HPA’s very strong financial performance reflects the authority’s solid operating performance in the past several years and our expectation that the port will continue to handle increasing cargo tonnage, containers, and cruise ships in the next several years.”

“The financial position of the Halifax Port Authority remains solid,” said Paul MacIsaac, Senior Vice President, Halifax port Authority. “This is primarily a result of continued strong operating results, planned debt reduction and targeted capital expenditures that align with business opportunities.”

About the Port of Halifax:

The Port of Halifax is Canada’s Ultra Atlantic Gateway, connecting to more than 150 countries and generating over $1.7 billion in annual economic benefit from a diverse cargo and cruise business. Offering a natural, deep harbour and world-class infrastructure, Halifax can accommodate large volumes of containerized cargo, bulk cargo and project cargo of any size. Collaborating and working with strong partners and stakeholders, the Port community in Halifax continues to deliver excellence.

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Lane Farguson
Communications Advisor
Halifax Port Authority
Ph. (902) 426-7375
lfarguson@portofhalifax.ca