Fitch Ratings Tuesday downgraded $236 million of outstanding Alabama State Port Authority revenue bonds to BBB-plus from A-minus and said the outlook is stable.

“The downgrade reflects an elevated risk profile for the authority’s financial strength due to weak economic conditions and a doubling of long-term debt from approximately $173 million at fiscal year-end 2006 to $361 million at present,”  Fitch said in a release.

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