SAVANNAH, Ga., – S&P Global (Standard & Poor’s), has released their bi-annual rating on August 8, and it gave Georgia Ports Authority an excellent rating (high grade) of AA/Stable on GPA’s revenue bonds and effectively the equivalent rating that Moody’s issued last September 2024 at Aa2.
That is according to a press release issued by Georgia Ports on Tuesday.
“The Georgia Ports Authority is appreciative of this assessment by S&P Global, a leading financial rating firm. We’re looking forward to another successful year of throughput with our ongoing investment in infrastructure, developing new business and serving the people of Georgia and the Southeast,” said Griff Lynch, President and CEO of Georgia Ports Authority.
The S&P Global Ratings report cited the key strengths of Georgia Ports:
- A very strong market position, given it is a dominant provider of port services, facing modest competition. The port is strategically important to the regional economy as an import and export hub for manufacturers and other businesses in Georgia and neighboring states.
- Financial metrics, based on our evaluation of current financial forecasts that assume attainable volume projections, which we expect will remain robust with no additional debt needs.
- Very strong management and governance, with an experienced management team that demonstrates both deep knowledge and insights into industry and market conditions and that has established a track record of managing and operating its port facilities and overseeing implementation of the large capital plan.
“This is a testament to our Georgia Ports Team and Board in managing this incredible asset for Georgia, acknowledging our important role in the economy of the Peach State and the Southeast region,” said Georgia Ports Board Chair Alec Poitevint.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
