PORT TOWNSEND — Port of Port Townsend leaders are marking a milestone in the port’s 71-year history with an A3 bond rating.
“It’s the highest rating the port’s ever gotten,” Larry Crockett, port executive director, said Tuesday.
The rating came after Moody’s, a leading investor service, reviewed the port’s financial records.
The rating is also a precursor to the port issuing $5 million in limited tax general obligation bonds.
The loan will go toward Point Hudson Marina, infrastructure and accessibility improvements and an airplane taxiway and hangar project at Jefferson County International Airport.
Both are port-owned properties.