Fitch Ratings has reaffirmed Port Tampa Bay’s ‘A+’ rating for about $62.3 million in outstanding revenue bonds and notes, with a stable outlook. The rating reflects the port’s ongoing capital investments, which have supported strong throughput and revenue performance and are expected to promote further growth in the near term. As a result of this rating, Port Tampa Bay is likely to benefit from improved insurance and bond rates.
The assessment highlights the port’s diversified operating revenues, supported by contractual agreements that contribute to stable revenue streams. The port maintains a strong fiscal position, demonstrated by steady liquidity levels and low leverage. Its varied operations help protect its financial performance from changes in any single business line. The current capital expenditures are mostly funded through grants and port revenues, limiting reliance on debt while allowing for future borrowing if needed.
“Port Tampa Bay is Florida’s largest and most cargo-diverse port, and our several lines of business remain our strength. The confidence expressed by Fitch is a reflection of our entire maritime community’s success and stability. Port Tampa Bay is proud of our position as a major economic driver, supporting nearly 192,000 jobs and generating over $34.6 billion in annual economic impact in the region we serve,” explained Paul Anderson, Port Tampa Bay President & CEO.
“Port Tampa Bay’s financial health and resilience are a direct reflection of our cargo diversity and balanced business model. From containerized goods and construction materials to energy, steel, and fertilizer, our port moves a broad mix of commodities that keep us stable in any market condition. This diversity enables us to invest responsibly, maintain top-tier infrastructure, and deliver long-term value to our stakeholders and the communities we serve,” explained Chad Harrod, Port Tampa Bay Board of Commissioners Chair.
Fitch Ratings conducts an annual evaluation of the port as Hillsborough County Port District.
