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Credit agency Fitch confirms Panama Canal's 'A' ratings
CREDIT agency Fitch Ratings has affirmed the Panama Canal Authority (ACP) Long-Term Issuer Default Rating (IDR) at 'A' and its US$450 million senior unsecured notes at 'A', reflecting the ACP's solid revenue profile and low leverage levels.
An ACP statement noted that Fitch Ratings highlighted that the Panama Canal provides unique connectivity and time savings for world maritime trade.
It also stated that the rating outlook is stable, noting the following ratings drivers: 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.
Last month Standard & Poor's (S&P) Global Ratings affirmed its 'A-' long-term corporate credit and debt ratings of the ACP, reiterating the credit rating agency's trust in the management, operation and investments of the Panama Canal.
An ACP statement noted that Fitch Ratings highlighted that the Panama Canal provides unique connectivity and time savings for world maritime trade.
It also stated that the rating outlook is stable, noting the following ratings drivers: 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.
Last month Standard & Poor's (S&P) Global Ratings affirmed its 'A-' long-term corporate credit and debt ratings of the ACP, reiterating the credit rating agency's trust in the management, operation and investments of the Panama Canal.
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