Port Canaveral Receives 'A' Bond Rating

With $617 million in capital projects planned and under way for expansion of its cruise and cargo operations moving forward, Canaveral Port Authority has received Fitch's 'A' rating for $26.9 million of outstanding revenue bonds, series 2005 and 2006 A&B, and a rating of 'stable' for all Port bonds. Fitch attributed the rating affirmation to Port Canaveral's established operating history, recent sustained tourism-related revenue growth and the corresponding favorable operating contracts and cost management, aggressive, but flexible, capital program and no anticipated borrowing.

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