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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
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Abstract
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 READ MORE >

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Navios Maritime Acquisition Corp.,Navios Maritime Holdings Inc.,Navios Acquisition Finance (US) Inc.

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