Two years after the inauguration of the Expanded Panama Canal, Standard & Poor’s (S&P) Global Ratings revised its outlook on the Panama Canal from ‘stable’ to ‘positive’ – demonstrating the global impact of the historic waterway. The rating agency also affirmed its ‘A-‘ rating for the Panama Canal, ranking the ACP two notches above that of the sovereign foreign currency rating.
S&P Global Ratings stated that they are revising Panama Canal’s outlook due to the waterway’s “intrinsic credit factors, sensitivity to country risk, and liquidity cushion.”
The Panama Canal’s outlook indicates the rating agency’s expectation that it will generate relatively stable annual earnings before interest, taxes, depreciation, and amortization (EBITDA) due to transit growth, made possible by favorable trends in world trade commerce and the consolidations of the Neopanamax Locks’ operations.
“This revision in S&P Global Ratings’ outlook reflects the Panama Canal’s solid financial and operational performance,” said Panama Canal Executive Vice President for Finance and Administration, Francisco J. Miguez. “This is the direct result of our commitment to efficiency, productivity and performance – overcoming the challenge of growing in an increasingly competitive market.”
Press Release: pancanal.com
Shipping News You Would Like:
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Latest Shipping News You Would Like:
Get the Latest Maritime News Delivered to Your Inbox!
Our free, fast, and fun newsletter on the global maritime industry, delivered everyday.