Moody’s Reaffirms Panama Canal’s A2 Long-Term Rating

Panama CanalImage Courtesy: Panama Canal Authority

The Panama Canal Authority’s (ACP) A2 long-term rating has been reaffirmed with a stable outlook, according to ratings agency Moody’s.

The ACP’s strong financial performance has resulted in better than anticipated financial metrics, driven by the successful operations of the Expanded Panama Canal, the agency explained.

Moody’s also noted the canal’s strong operating track record and robust growth after the expansion.

“Once again the credit rating agency confirms the great operational and financial strength of the canal and recognizes that the robust institutional structure and governance continue to be key to the success of the Panama Canal Authority,” Francisco J. Miguez, Panama Canal Vice President of Finance, said.

The credit rating agency said that the canal has demonstrated resiliency in times of economic downturn, highlighting that “despite macroeconomic factors, such as sluggish economic global performance, tariff disputes, and a low demand for raw materials in Latin America and Asia, that could negatively impact the canal’s operations, Moody’s estimates tonnage to continue increasing during 2019.”

In August, Fitch Ratings affirmed the ACP A investment grade rating with a stable outlook for its long-term issuer default rating and its senior unsecured notes. In July, Standard & Poor’s (S&P) Global Ratings improved the canal’s outlook from stable to positive, and also affirmed its A- rating of the waterway.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 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
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >