Fitch Ratings: Panama Canal’s Ratings at A, Outlook Stable

The Panama Canal Authority’s (ACP) Long-Term Issuer Default Rating (IDR) and its USD 450 million senior unsecured notes have been both rated at ‘A’ by international ratings agency Fitch Ratings, “reflecting the ACP’s solid revenue profile and low leverage levels,” according to the authority.

Fitch Ratings said that the rating outlook is stable, noting the Panama Canal’s resilience to economic downturns, diversified revenue sources, a robust toll structure, and solid competitive position, supported by revenues resulting from the opening of the Expanded Canal, as the ratings drivers.

Additionally, the credit rating agency said that the ACP “compares favorably with other rated larger intermodal transportation entities,” adding that the ACP has a comfortable liquidity headroom, which is sufficient to meet upcoming debt payments.

The ratings come just over two months after the inauguration of the Expanded Panama Canal.

Since then, more than 160 vessels have transited the Expanded Canal, including container ships, liquefied petroleum gas (LPG) carriers, vehicle carriers, oil tankers and liquefied natural gas (LNG) carriers, a new market segment for the Canal.

“The significant demand shown by the maritime industry reinforces the need for the Expansion, its potential and the benefits it brings to global commerce,” the ACP said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >