August 27, 2014 – Halifax, N.S. – Standard & Poor’s has upgraded the Halifax Port Authority’s credit rating to ‘A+’ from ‘A’.
The Halifax Port Authority has developed, and currently operates from a diversified revenue base generating strong and consistent cash flow. “We see this upgraded credit rating of ‘A+’ from Standard & Poor’s as confirmation of the strength of that cash flow,” said Paul MacIsaac, Senior Vice President, Halifax Port Authority. “The Halifax Port Authority remains committed to working with our partners to increase cargo volumes moving through the Port of Halifax as we continue to enhance our cruise business and fully utilize our land holdings for the benefit of Nova Scotians and all Canadians.”
Since 2011, over $100-million has been invested into Port-facilities including infrastructure upgrades at both container terminals and the Richmond Terminals project which is nearing completion.