Standard & Poor’s raised its underlying rating to A-plus from A on the Virginia Port Authority’s facilities revenue bonds, reflecting continued growth in container volumes and strong debt service coverage, despite competition from the new A.P. Moeller-Maersk container terminal. The outlook is stable.

At the same time, Standard & Poor’s assigned its short-term SP1-plus rating to the VPA’s $65 million of Series 2008 subordinate revenue bond anticipation notes.

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