Fitch Ratings has upgraded the Alabama Port Authority's Dock Facilities Revenue Bonds to an A- rating with a Stable Outlook, citing its strong financial position, disciplined capital planning and an increasingly diversified revenue base.

The upgrade raises the bonds from BBB+ to A- and follows S&P Global Ratings' decision last month to raise the Port Authority's issuer credit rating to an A. Both organizations cited the Port Authority's strong financial performance and ongoing capital investments as key factors supporting their rating actions.

"This recognition reflects the thoughtful approach our leadership team and Board have taken to growing the Port," said Alabama Port Authority Director and CEO Doug Otto. "We're continuing to invest in modern facilities and infrastructure while maintaining a strong financial foundation. That puts us in a position to better serve our customers and continue driving economic development across Alabama."

In its report, Fitch recognized the Port Authority's strong debt service coverage and continued execution of capital improvements without additional borrowing, noting that those investments are expected to expand capacity and position the Port of Mobile for long-term growth. Fitch also noted that expanding container operations and other growing business lines are helping diversify the Alabama Port Authority's revenue base over time.