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American Petroleum Tankers 'B-' Rating Affirmed On Expectations Of Stable Revenue And Earnings; The Outlook Is Stable Feb 12
Standard & Poors, Feb 2012
Abstract
We expect American Petroleum Tankers to maintain a stable but highly leveraged financial profile, benefiting from relatively stable revenues and sharply reduced capital spending. We are affirming our 'B-' long-term corporate credit rating on the company and our 'B+' rating on its $285 million first-lien notes. The stable outlook reflects our expectation that the company will maintain its time-charter coverage and continue to generate relatively stable revenues and earnings. NEW YORK (Standard & Poor's) Feb. 7, 2012--Standard & Poor's Ratings Services said today that it affirmed its 'B-' long-term corporate credit rating on New York City-based American Petroleum Tankers LLC (APT). The outlook is stable. At the same time, Standard & Poor's affirmed the 'B+' rating on the company's $285...
Companies mentioned in this report are: American Petroleum Tankers LLC,AP Tankers Co
Action: Affirmed
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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