Marine Link
Tuesday, May 23, 2017

S&P Lowers Pacific & Atlantic Rating

September 10, 1999

Standard & Poor's yesterday lowered its long-term corporate credit ratings on Pacific & Atlantic Holdings Inc. to double-'C' from triple-'C'-plus. The downgrades reportedly reflect Pacific & Atlantic's worsening financial profile, as it continues to suffer from very poor market conditions in the dry bulk shipping and container markets.
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