{"id":24142,"date":"2006-09-11T14:14:08","date_gmt":"2006-09-11T14:14:08","guid":{"rendered":"https:\/\/pancanal.com\/en\/?p=24142"},"modified":"2021-09-10T14:15:22","modified_gmt":"2021-09-10T14:15:22","slug":"analyst-from-leading-global-rating-agency-asserts-expansion-project-should-have-long-term-positive-impact","status":"publish","type":"post","link":"https:\/\/pancanal.com\/en\/analyst-from-leading-global-rating-agency-asserts-expansion-project-should-have-long-term-positive-impact\/","title":{"rendered":"Analyst from leading Global Rating Agency asserts “Expansion Project should have long-term, positive impact”"},"content":{"rendered":"

SAYS EXPANSION WOULD NOT AFFECT\u00a0PANAMA’S RISK LEVEL\u00a0\u00a0\u00a0<\/em><\/p>\n

PANAMA CITY<\/strong>, Panama, September 11, 2006<\/strong>\u00a0\u2013 At a recent forum in Panama, sponsored by newspaper\u00a0Capital Financiero<\/em>, Fitch Ratings analyst Erick Campos said: \u201cIf handled appropriately, the Panama Canal expansion project should have a long-term, positive economic impact.” Fitch said that the money needed for the Canal expansion would not\u00a0affect Panama’s\u00a0risk rating as long as fiscal consolidation and strong economic growth continues. Moreover, Campos\u00a0declared that if it\u00a0were\u00a0to assign the Panama Canal Authority (ACP) a credit rating, it could be higher than\u00a0BB+,\u00a0which is Panama\u2019s present credit rating.<\/p>\n

At this juncture, the ACP is not obtaining a credit rating and has not hired a credit rating agency. Investment ratings provide investors with a financial picture of a company\u2019s or a sovereign government\u2019s financial health, taking into consideration its management, debt levels, finances, and other similar criteria. It is a metric that measures investment risk.<\/p>\n

The Panama Canal expansion proposal would build a new lane of traffic along the Panama Canal that would double capacity and allow more traffic. The project is estimated to cost $5.25 billion and would be paid entirely by users of the Canal through a graduated system of\u00a0toll increases. According to the Panamanian Constitution (Title XVI, Article 320) and Law No. 28 (July 17, 2006) of the National Assembly, the Panamanian government will not guarantee the ACP\u2019s debt for the Panama Canal expansion.<\/p>\n

Fitch Ratings is a leading global rating agency dual-headquartered in New York and London committed to providing the world’s credit markets with independent, timely and prospective credit opinions. Fitch Ratings currently maintains coverage of 3,100 financial institutions, including 1,600 banks and 1,400 insurance companies.<\/p>\n

About the Panama Canal Authority<\/strong>
\nThe Panama Canal Authority is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the Panama Canal Authority’s Web site:\u00a0www.pancanal.com<\/a>.<\/p>\n

The Authority’s responsibility to the Panamanian people is paramount. The Canal belongs to the people and benefits from the Canal should accrue to as many Panamanians as possible.\u00a0The Authority will plan its future so that it will continually contribute to the economic development and welfare of the citizens of Panama.<\/p>\n","protected":false},"excerpt":{"rendered":"

SAYS EXPANSION WOULD NOT AFFECT\u00a0PANAMA’S RISK LEVEL\u00a0\u00a0\u00a0 PANAMA CITY, Panama, September 11, 2006\u00a0\u2013 At a recent forum in Panama, sponsored by newspaper\u00a0Capital Financiero, Fitch Ratings analyst Erick Campos said: \u201cIf handled appropriately, the Panama Canal expansion project should have a long-term, positive economic impact.” Fitch said that the money needed for the Canal expansion would … Continue reading “Analyst from leading Global Rating Agency asserts “Expansion Project should have long-term, positive impact””<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-24142","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nAnalyst from leading Global Rating Agency asserts "Expansion Project should have long-term, positive impact" - 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