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>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 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
30 31 1 2 3 4 5

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 >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >

MARITIME INDUSTRY 2020

The future of the maritime sector is the point of focus during Maritime Industry 2020.

read more >