Research Update: Navios Maritime Acquisition Corp. Assigned 'B' Rating; Outlook Stable; Proposed $375 Mil. Notes Rated 'B' Oct 10
- ID: 1858306
- October 2010
- Standard & Poors
Navios Maritime Acquisition Corporation is an owner and operator of product, crude oil, and chemical tankers. We are assigning a 'B' long-term corporate credit rating. We are also assigning a 'B' senior secured debt rating to the proposed $375 million proposed first -priority notes to be issued by Navios Acquisition and its finance subsidiary Navios Acquisition Finance (US) Inc. The outlook is stable, reflecting our expectation of a gradual improvement in profitability and cash flow generation. On Oct. 1, 2010, Standard & Poor's Ratings Services assigned its 'B' long-term corporate credit rating to tanker shipping company Navios Maritime Acquisition Corp. (Navios Acquisition) and its finance subsidiary Navios Acquisition Finance (US) Inc. The outlook is stable. We also assigned a 'B'...
Companies mentioned in this report are: Navios Maritime Acquisition Corp.,Navios Maritime Holdings Inc.,Navios Acquisition Finance (US) Inc.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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