Fitch Ratings Upgrades Port’s Bond Rating

Friday, September 06, 2002
Fitch Ratings, an international credit rating firm, recently announced it has upgraded the Canaveral Port Authority $61 million of outstanding debt from “A-“ to “A” and assigned the “A” rating to the Authority’s proposed refunding issue. The agency cited the Port’s strong financial operations from increased cruise activity as well as the Port’s modest capital program and strong management team as part of the basis for the upgrade. “We are pleased that Fitch Ratings recognizes our sound business practices and planning,” says Donald Molitor, Secretary/Treasurer of the Canaveral Port Authority Board of Commissioners. The ratings upgrade will help lower the interest rates on the current refinancing. The proposed savings and restructuring will allow the Port to add up to $9 million of new money without changing its current debt service requirement or extending the maturities of the existing bonds. The additional money will help finance the construction of additional parking spaces, a facility for Immigration and Naturalization Services, a baggage conveyor system and pier improvements at Cruise Terminal 10, and a dredging project in the Port’s west turning basin.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Long Beach Port Celebrates Environmental Successes

Shipping lines, environmental organizations, trucking companies, terminal operators and a railroad were honored today, July 29, by Long Beach Mayor Dr. Robert

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

Victoria Celebrates Six Millionth Cruise Ship Passenger

Two tourists  -Victoria and Joseph Winthal - disembarking the Golden Princess Cruise Ship in Ogden Point have got an unexpected surprise.      They were selected

Ports

Asia Dry Bulk-Capesize Rates Could Soften

Capesize market "overheated" as rates near eight-month highs; optimism for a busier fourth quarter looms. Freight rates for capesize bulk carriers are likely

Eni Mulls Mozambique LNG Supply Deal

Italian oil and gas group Eni is holding discussions with a potential buyer of liquefied natural gas (LNG) supply from its floating export project in Mozambique, an executive said on Thursday.

Neptune Orient Lines Logs Q2 Profit

Singapore's Neptune Orient Lines Ltd (NOL) swung to a tiny net profit in its second quarter after six straight quarters of losses but said it had seen severe freight rate erosion.

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0859 sec (12 req/sec)