News Column

Fitch Affirms U.S. Port Ratings Following Peer Review

June 25, 2014



NEW YORK--(BUSINESS WIRE)-- As part of its peer review process, Fitch Ratings has affirmed its ratings for standalone U.S. Ports. No ratings were changed as a result of the peer review.

Fitch will shortly release the findings from its detailed review in the report 'Peer Review of U.S. Ports'. The report highlights relevant material risk factors factored into the ports' ratings including financial metrics. It also details the key rating driver attribute assessments outlined in the agency's criteria (available at www.fitchratings.com).

In its review, Fitch confirmed or changed, as appropriate, the related attribute assessments (Stronger, Midrange or Weaker) for the ports. Information supporting the assessments is included in the individual rating action commentaries released for each port; Fitch performs periodic surveillance reviews or event driven credit reviews during the course of each year. The attribute assessments for each port, along with key quantitative metrics, will be identified in Fitch's peer report.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Rating Criteria for Infrastructure and Project Finance' (July 12, 2012);

--'Rating Criteria for Ports' (Oct. 3, 2013).

Applicable Criteria and Related Research: Fitch Affirms U.S. Port Ratings Following Peer Review

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751108

Rating Criteria for Ports

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=719985

Rating Criteria for Infrastructure and Project Finance

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682867

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=836536

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Primary Analyst

Emma Griffith, +1 212-908-9124

Director

Fitch Ratings, Inc.

33 Whitehall St.

New York, NY 10004

or

Seth Lehman, +1 212-908-0755

Senior Director

or

Zane Latham, +1 415-732-5612

Associate Director

or

Charles Askew, +1 212-908-0644

Associate Director

or

Committee Chairperson

Scott Zuchorski, +1 212-908-1659

Senior Director

or

Media Relations, New York

Elizabeth Fogerty, +1 212-908-0526

elizabeth.fogerty@fitchratings.com


Source: Fitch Ratings


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