Moody's reaffirms A2 rating of the Panama Canal Authority with a stable outlook

Moody's reaffirms A2 rating of the Panama Canal Authority with a stable outlook

These bonds were qualified under equal conditions with the $ 2.3 billion loan granted by bilateral and multilateral institutions to finance the Panama Canal expansion program.

Moody's ratings confirmed with a stable outlook; its A2 rating assigned to the 20-year, $ 450 million senior unsecured bonds issued by the Panama Canal Authority (ACP).

The bonds were issued to partially finance the construction of the third bridge over the Atlantic Oceanway.

These bonds were qualified under equal conditions with the $ 2.3 billion loan granted by bilateral and multilateral institutions to finance the Panama Canal expansion program.

Moody's also upgraded the ACP's Base Credit Assessment (BCA) from A3 to A2, which reflects the successful operations of the expanded Canal to one year since its opening.

According to the qualifying company, the expanded Canal has captured more transits and tonnage and has allowed the development of new businesses and investments.