S&P Global Ratings has affirmed HPA’s A+ investment grade credit rating, with the outlook remaining positive.
More specifically, as the report states, “despite economic headwinds and continuing supply chain issues, the Halifax Port Authority’s (HPA’s) financial profile will remain healthy, supported by a large proportion of stable rental revenues and a low debt burden.”
“HPA experienced the impacts of Covid-19 as it did the entire world. However, continued operation of most of our business lines helped us weather the Covid storm,” said Paul MacIsaac, senior vice president.
“Operating expenses were maintained at a level consistent with the prior year which was low compared to pre-Covid years. The people, organizations and partners that make up the Port of Halifax worked incredibly hard to ensure operations continued to run smoothly during a second year of global upheaval and uncertainty. We cannot overstate the invaluable work of our entire port community these past two years,” he added.
