Fitch Expects to Rate Seaspan’s Senior Unsecured Notes ‘BB(EXP)’
Fitch Ratings has assigned an expected rating of ‘BB(EXP)’ to Seaspan Corporation’s (Seaspan) proposed issuance of senior unsecured notes.
KEY RATING DRIVERS
The expected rating is equalized with the ratings assigned Seaspan’s outstanding senior unsecured notes as the new notes will rank equally in right of payment with all of the company’s existing and future senior unsecured indebtedness. The rating on Seaspan’s unsecured notes is equalized with the company’s Long-Term IDR, reflecting average recovery prospects in a stressed scenario based on the coverage from the pool of unencumbered vessels.
Fitch Publishes First-Time BB IDR to Seaspan Corporation; Outlook Stable | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Fitch Ratings-Chicago-01 June 2021: After a record-breaking hurricane season in 2020, U.S. property/casualty (re)insurers are bracing to absorb large potential catastrophe losses with projections for another above-average hurricane season, according to a new Fitch Ratings report.
Nonprofit Hospitals Get Negative Public Finance Ratings
January 19, 2021
A greater number of public entities received finance ratings downgrades than upgrades for the first time since 2013, according to New York City-based credit rating agency Fitch Ratings. Nonprofit hospitals, which have experienced upheavals in the operations amid the coronavirus epidemic, have an uncertain future as the crisis lingers.
Overall, Fitch Ratings issued 100 upgrades and 181 downgrades across several sectors, compared with 173 upgrades and 105 downgrades in 2019. Within the hospital sector, however, only five organizations were upgraded, compared with 22 receiving downgrades.
Part of the downgrades reflect hospitals needing to turn from profitable elective surgeries, which have been limited or banned during the coronavirus crisis, in favor of focusing resources on managing the pandemic. Fitch Ratings attributed 13 downgrades, two Negative Rating Outlook designations and 17 Negative Watch designatio