New Orleans Port Downgraded by S&P

DeSue, Tedra
June 2003
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p2
Trade Publication
It has been reported that on Standard & Poor Corp. downgraded the Port of New Orleans to A-minus from A as it prepares to sell $ 34 million of revenue bonds by the end of the month. Additional debts and declining cash position were cited to justify the downgrade of the port. The port plans to sell $ 34 million of bonds, which will weaken anticipated future debt coverage in fiscal year 2005.


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