Standard & Poor's reaffirms 'A-' credit rating for Panama Canal Authority
STANDARD & Poor's (S&P) Global Ratings re-affirmed its "A-" long-term corporate credit and debt ratings of the Panama Canal Authority (ACP) after a research update on August 4 stated that the ACP's operating and financial performance remained in line with S&P's expectations.
"We expect the Panama Canal operator to maintain its exceptionally strong competitive position, because it's the most economical and time-saving option for trade routes between Americas, Asia, and Europe," read the S&P Global Ratings Research Update.
"The affirmation also reflects our expectation due to a very stable and predictable cash flow generation, which we attribute to the consistency of demand for the ACP's services."
The global rating comes a month after the inauguration of the Panama Canal expansion.
Since then, 88 vessels have transited, and 266 reservations have been received. The demand from the maritime industry reinforces the need for the expansion, its future potential, and the benefits it brings to global commerce and the world's consumers, said the Panama Canal Authority.
STANDARD & Poor's (S&P) Global Ratings re-affirmed its "A-" long-term corporate credit and debt ratings of the Panama Canal Authority (ACP) after a research update on August 4 stated that the ACP's operating and financial performance remained in line with S&P's expectations.
"We expect the Panama Canal operator to maintain its exceptionally strong competitive position, because it's the most economical and time-saving option for trade routes between Americas, Asia, and Europe," read the S&P Global Ratings Research Update.
"The affirmation also reflects our expectation due to a very stable and predictable cash flow generation, which we attribute to the consistency of demand for the ACP's services."
The global rating comes a month after the inauguration of the Panama Canal expansion.
Since then, 88 vessels have transited, and 266 reservations have been received. The demand from the maritime industry reinforces the need for the expansion, its future potential, and the benefits it brings to global commerce and the world's consumers, said the Panama Canal Authority.