S&P affirms Halifax Port Authority

Standard & Poor's said it affirmed the A long-term issuer credit rating on the Halifax Port Authority.

The outlook is stable.

The rating reflects the authority's strategic location on the east coast of North America, strong catchment area and strong financial performance, despite a recent downturn, S&P said.

The port has natural deep harbors and supporting infrastructure, giving it a competitive advantage as a first-in and last-out port for Asian container traffic traveling through the Suez Canal, the agency said.

Its strong rail and road infrastructure links give it a competitive advantage in accessing markets in the Halifax-Montreal corridor and the U.S. Midwest, S&P added.

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