Port Tampa Bay’s maintains an ‘A’ financial rating from Fitch

- Fitch Ratings-New York re-affirmed Port Tampa Bay an ‘A’ rating as the Hillsborough County Port District. The rating was re-affirmed and the port’s outlook remained stable, despite global economic disruptions that continue due to COVID-19. 

According to Fitch, “The rating reflects the port's diversified operating revenues, which limit exposure to pandemic-related declines in cruise revenue, coupled with a strong fiscal position evidenced by strong liquidity and a relatively low debt profile. Cruise activity resumed in October 2021 for the first time since the no-sail order was issued in March 2020 at the onset of the pandemic.”

Fitch re-affirmed Port Tampa Bay’s rating in part due to the port’s diverse lines of business, positive anticipated ad valorem tax revenues, and the way the port anticipated and budgeted for reduced cruise revenue.

To learn more about Fitch Ratings, visit https://www.fitchratings.com