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Do operating losses affect the N.C. State Ports Authority’s ability to meet its debt repayment obligations?

Patrick Gannon
StarNews

No, said Shannon Moody, director of communications for the N.C. State Ports Authority.

The Ports Authority, she said, has sufficient capacity to cover its debt service. She said the authority generates its own revenue and pays its own expenses.

“The authority continues to generate positive cash flows regardless of bottom-line losses as a result of non-cash expenses such as depreciation and write downs,” Moody said.

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