For a third consecutive year, the rating agency Fitch Ratings reaffirmed the Panama Canal Authority’s (ACP) ‘A’ investment grade rating with a stable outlook for its long-term issues default and senior unsecured notes.
The agency highlights the “stable performance in terms of cargo volumes, the solid competitive position and the well-diversified cargo mix of the Canal, which makes the ACP profile show high levels of resilience“.
In addition, Fitch Ratings stressed the strategic role of the Canal in international commercial trade flow, adding value as the main transshipment center in the region.
We are pleased that Fitch Ratings has once again confirmed the financial and competitive strength of the Panama Canal, for the third consecutive year. This performance is the result of the commitment of the Canal’s collaborators who ensure the efficient, safe and profitable operation of the interoceanic highway every day,
…said Francisco J. Míguez, executive vice president of Finance and Administration of the Panama Canal.
Further, the rating is based on the long history of the Panama Canal Authority (ACP) in managing its operations profitably through different administrations. Fitch Ratings noted the “extraordinary legal framework” of the ACP, which contributes to its institutional, operational and financial autonomy.
