OREANDA-NEWS. S&P Global Ratings assigned its 'AA-' long-term rating to the Port of Tacoma, Wash.'s $43 million series 2016A revenue refunding bonds and $113 million series 2016B senior revenue and refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the port's senior-lien debt and its 'A+' long-term rating on the port's subordinate-lien debt. The outlook is stable.

"The ratings reflect our view that the port's financial metrics are solid and its growth opportunities are strong," said S&P Global Ratings credit analyst Mary Ellen Wriedt.

The bonds are being issued to refund certain outstanding debt and to fund $90 million in construction costs for the Terminal 4 project.