Posted at 11:02 a.m., Friday, December 21, 2007
Standard & Poor's affirms A&B credit rating
Advertiser Staff
Standard & Poor's Ratings Services has affirmed its "A-" long-term corporate credit rating for Alexander & Baldwin Inc. and its Matson Navigation Co. subsidiary. The ratings agency said the outlook for both companies remains stable."Ratings on Alexander & Baldwin reflect its solid competitive position in ocean shipping, strong real estate asset quality, and modest financial risk profile, offset somewhat by risks associated with significant investment requirements and concentrated end-market demand," said Standard & Poor's credit analyst Funmi Afonja in a press statement.
Standard & Poor's reported A&B had about $529.5 million of lease-adjusted debt outstanding at the end of September.
