{"id":6904,"date":"2019-03-12T10:55:36","date_gmt":"2019-03-12T10:55:36","guid":{"rendered":"https:\/\/pancanal.com\/en\/?p=6904"},"modified":"2021-09-03T09:41:10","modified_gmt":"2021-09-03T09:41:10","slug":"moodys-upgrades-panama-canals-long-term-rating-to-a1-with-stable-outlook","status":"publish","type":"post","link":"https:\/\/pancanal.com\/en\/moodys-upgrades-panama-canals-long-term-rating-to-a1-with-stable-outlook\/","title":{"rendered":"Moody\u2019s Upgrades Panama Canal\u2019s Long-Term Rating to A1 with Stable Outlook"},"content":{"rendered":"

Panama City, Panama, March 12, 2019<\/strong> — Moody\u2019s Investors Service
\nupgraded the 20-year $450 million Senior Unsecured Bonds issued by the Panama
\nCanal Authority (ACP) to A1 from A2, with a stable outlook, based on the
\nwaterway\u2019s strong performance since the expansion\u2019s inauguration.<\/p>\n

Moody\u2019s noted that the Expanded Canal has increased overall tonnage and
\nattracted new market segments, contributing to the waterway\u2019s strong
\nperformance. According to Moody\u2019s, \u201cstronger cash flow generation coupled
\nwith a relatively low leverage has resulted in very solid financial
\nmetrics.\u201d<\/p>\n

\u201cThis upgrade in the long-term rating is the result of the Panama Canal\u2019s
\nfinancial strength, its proven track record of institutional independence and
\nsuccessful governance that continue to be key to the waterway\u2019s success,\u201d
\nsaid Panama Canal Vice President for Finance Francisco J. Miguez.<\/p>\n

The credit rating agency noted that the rating \u201cis one-notch above the A2
\nsovereign ceiling of Panama and three notches above the rating of the
\nGovernment of Panama (Baa1 stable), implying low risk of moratorium
\nrestrictions and capturing the Canal\u2019s very strong credit profile with a
\nsubstantial international component of its revenues.\u201d<\/p>\n

In August 2018, Fitch Ratings affirmed the ACP \u2018A\u2019 investment grade rating with
\na stable outlook for its long-term issuer default rating and its senior unsecured
\nnotes. In July 2018, Standard & Poor\u2019s (S&P) Global Ratings improved
\nthe Canal\u2019s outlook from \u2018stable\u2019 to \u2018positive,\u2019 and also affirmed its \u2018A-\u2018
\nrating of the waterway.
\nAbout the Panama Canal Authority (ACP)<\/strong>
\nThe Panama Canal Authority (ACP) is an autonomous legal entity of the Republic of Panama in charge of the operation, administration, management, preservation, maintenance, and modernization of the Panama Canal, as well as its activities and related services, so that the Canal may operate in a safe, continuous, efficient manner. For more information, please refer to the ACP’s website: http:\/\/www.pancanal.com or follow us on Twitter @thepanamacanal.<\/p>\n","protected":false},"excerpt":{"rendered":"

Panama City, Panama, March 12, 2019 — Moody\u2019s Investors Service upgraded the 20-year $450 million Senior Unsecured Bonds issued by the Panama Canal Authority (ACP) to A1 from A2, with a stable outlook, based on the waterway\u2019s strong performance since the expansion\u2019s inauguration. Moody\u2019s noted that the Expanded Canal has increased overall tonnage and attracted … Continue reading “Moody\u2019s Upgrades Panama Canal\u2019s Long-Term Rating to A1 with Stable Outlook”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":9047,"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-6904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nMoody\u2019s Upgrades Panama Canal\u2019s Long-Term Rating to A1 with Stable Outlook - Autoridad del Canal de Panam\u00e1<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pancanal.com\/en\/moodys-upgrades-panama-canals-long-term-rating-to-a1-with-stable-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s Upgrades Panama Canal\u2019s Long-Term Rating to A1 with Stable Outlook - Autoridad del Canal de Panam\u00e1\" \/>\n<meta property=\"og:description\" content=\"Panama City, Panama, March 12, 2019 — Moody\u2019s Investors Service upgraded the 20-year $450 million Senior Unsecured Bonds issued by the Panama Canal Authority (ACP) to A1 from A2, with a stable outlook, based on the waterway\u2019s strong performance since the expansion\u2019s inauguration. 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