Standard & Poor's Ratings Services has affirmed its ratings on Alexander & Baldwin Inc., including its "A-" long-term corporate credit rating. It also affirmed the rating on the long-term corporate credit of A&B unit Matson Navigation Co.

Standard & Poor's said the ratings reflect the companies' strong competitive position in ocean shipping, and A&B's favorable real estate asset quality. It also noted the companies have a solid financial profile. The ratings agency said it does not expect to revise its "stable" outlook on the companies in the near future because of the slowing Hawaii economy might effect shipping and real estate activities.