Summary: United Maritime Group LLC Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services' ratings on Tampa, Fla.-based United Maritime Group LLC reflect the firm's "highly leveraged" financial profile (as our criteria define the term) and participation in the highly competitive and capital-intensive shipping industry. The ratings also reflect its exposure to cyclical demand swings in certain end markets and vulnerability to weather-related disruptions in business operations. Our ratings also take into consideration the company's high exposure to the coal transportation market. United Maritime's solid market position in U.S. domestic coastal and river dry bulk barge transportation; its relatively stable revenues under fixed-rate, long-term contracts; and the competitive barriers to entry under the Jones Act are positive factors. The Jones Act requires that shipments between U.S. ports be carried...

Companies mentioned in this report are: United Maritime Group LLC
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

United Maritime Group LLC

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