22 August 2026
Cruise Growth Drives Fitch Upgrade for Galveston Wharves
Fitch Ratings has raised its rating on outstanding Galveston Wharves revenue bonds to A+ from A, the Port of Galveston shared in a press release.
According to Fitch: “The upgrade reflects the port’s sustained growth in cruise activity, which has supported strong financial performance and metrics consistent with an ‘A+’ rating. Fitch expects significant cruise and cargo capital investments completed or underway to support long-term revenue growth.”
Approximately $198.5 million in bonds were issued in 2024 to fund the construction of the port’s fourth cruise terminal, the press release states.