Port’s “competitive position for cross border trade” and “strong financial position” Key Factors in Retaining High Rating
BROWNSVILLE, Texas – March 19, 2021 – Moody’s Investor Services assigned a stable outlook to the Brownsville Navigation District (BND) and reaffirmed a high “A2” credit rating on its revenue bonds.
The stable outlook reflects Moody’s view that “the port will maintain ample liquidity supported by strong operating cash flow margins.”
Moody’s noted the Port of Brownsville’s “competitive position for cross border trade as well as the upside potential of near-term projects at the port and major private sector investments” in maintaining the $32 million bonds’ high A2 score, which it defines as among average for “upper-medium grade and are subject to low credit risk.”
Moody’s ra
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