6:15pm | The Port of Long Beach’s A-grade puts it on the dean’s list for lending, it would seem, with the port once again earning the high mark from Standard & Poor’s, a bond rating that reflects the port’s strong financial profile.

Standard & Poor’s maintained the port’s long-term bond rating at “AA” with a stable outlook, while S&P also affirmed a ‘”A-1+” rating for the port’s short-term, commercial paper. Such a high credit rating recognizes “good financial management by the port and keeps the cost of borrowing lower,” according to a statement issued by the port.

This rating is important, and beneficial, as the port undertakes roughly $4 billion in capital improvement projects over the next decade. The 10-year capital improvement program includes terminal upgrades, train transportation improvements, a bridge rehab, expenditures on the port maintenance building, navigation and dredging improvements and safety and security.

Ratings are forward-looking opinions about credit risk that offer an opinion about the ability of a corporation or government entity to meet its financial obligations. According to S&P, an entity with an AA rating has a “very strong capacity to meet financial commitments.” Standard & Poor’s highest rating is AAA, which means an entity has an “extremely strong capacity to meet financial commitments.”

“The stable outlook reflects our expectation that financial metrics will remain strong and liquidity will remain good,” the rating firm said.