New York, June 07, 2016 -- Moody's Investors Service has affirmed the P-1 LOC-backed ratings of the Port of Oakland, California (the Port) Commercial Paper Notes, Series A (AMT), Series B (Non-AMT) and Series C (Taxable) (collectively the Notes). The affirmations are issued in connection with the substitution of the current letter of credit (LOC) supporting the Notes provided by Wells Fargo Bank, N.A. with a new LOC to be provided by Bank of America, N.A. (the Bank). The substitution is scheduled to occur on June 13, 2016.

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