Moody's Ups Newport News

Friday, March 10, 2000
Moody's Investors Service upgraded the senior unsecured debt rating of Newport News Shipbuilding, Inc. (NNS) to Ba1 from Ba2 to reflect the company's improving operating and cash flow performance, and its strengthening business outlook and balance sheet, Moody's reported. The ratings also incorporate its still-weak balance sheet, notwithstanding the recent gradual improvements. Positive cash flows have led to reduced debt levels, Moody's said, which together with its expanded equity base (through retained profits), have led to a somewhat stronger, albeit still leveraged balance sheet. The company's outlook has also improved as a result of the resurgence of growth in the U.S. defense spending.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Statoil, DNV GL Drive Subsea Factory Interface Standardization

Statoil has entered into an agreement with DNV GL to establish an industrial cooperation to introduce an international industry standard for subsea process technology.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0797 sec (13 req/sec)