Fitch Ratings has reaffirmed Port Tampa Bay’s “A+” rating on approximately $62.3 million in outstanding revenue bonds and notes, maintaining a stable outlook for the port’s financial future.
The rating reflects the port’s diversified operating revenues, supported by long-term contractual agreements, stable liquidity, low leverage and a capital plan largely funded by grants and port revenues rather than new debt. Fitch noted these factors provide the port with financial resilience and borrowing flexibility.
Paul Anderson, president and chief executive officer of Port Tampa Bay, said the recognition underscores the strength of Florida’s largest and most cargo-diverse port, in a statement from the Port.
“The confidence expressed by Fitch is a reflection of our entire maritime community’s success and stability,” Anderson said. “Port Tampa Bay is proud of our position as a major economic driver, supporting nearly 192,000 jobs and generating more than $34.6 billion in annual economic impact.”
Chad Harrod, chair of the Port Tampa Bay Board of Commissioners, said the port’s cargo diversity, ranging from containerized goods and construction materials to energy, steel and fertilizer, helps ensure stability in fluctuating markets.
“This diversity enables us to invest responsibly, maintain top-tier infrastructure and deliver long-term value to our stakeholders and the communities we serve,” Harrod said.
Fitch evaluates the port annually, as part of its Hillsborough County Port District review.