By Karen Robes Meeks
The Port of Hueneme has garnered an ‘A’ credit rating from the Standard and Poor’s (S & P) bond rating system. The port’s stability with its top customers, solid fiscal track record and favorable GDP per capital were among several factors that went into S & P’s decision to raise the port’s bond rating.
“As an independent special district that does not rely on taxes but on our earned revenue, this accomplishment is a testament to the efforts of our District staff and leadership in prioritizing the Port’s fiscal health,” stated Oxnard Harbor District President Jess Herrera. “Being a public agency, we have the responsibility to be good stewards of our finances, and this third-party certification signals to the public, potential lenders, and our customers that we have our fiscal house in order.”
This bond rating increase comes at a crucial time for the port, which is embarking on several infrastructure development projects that may require the port to go to the bond market to finance, said CEO & Port Director Kristin Decas.
“This upgraded rating will allow the port better borrowing terms, and ultimately save the public millions of dollars over the life of projects.”.
The Port of Hueneme has garnered an ‘A’ credit rating from the Standard and Poor’s (S & P) bond rating system. The port’s stability with its top customers, solid fiscal track record and favorable GDP per capital were among several factors that went into S & P’s decision to raise the port’s bond rating.
“As an independent special district that does not rely on taxes but on our earned revenue, this accomplishment is a testament to the efforts of our District staff and leadership in prioritizing the Port’s fiscal health,” stated Oxnard Harbor District President Jess Herrera. “Being a public agency, we have the responsibility to be good stewards of our finances, and this third-party certification signals to the public, potential lenders, and our customers that we have our fiscal house in order.”
This bond rating increase comes at a crucial time for the port, which is embarking on several infrastructure development projects that may require the port to go to the bond market to finance, said CEO & Port Director Kristin Decas.
“This upgraded rating will allow the port better borrowing terms, and ultimately save the public millions of dollars over the life of projects.”.
