Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for OMI Corp. > News item |
S&P ups OMI view to positive
Standard & Poor's said it revised the outlook on its ratings on OMI Corp. (BB/positive/--) to positive from stable and affirmed its corporate credit rating and other ratings on the tanker shipping company.
The outlook change reflects OMI's ongoing improvement in earnings and cash generation; a continued focus on growing its time charter business, resulting in a growing stable cash flow base; and a modestly less aggressive acquisition strategy. These trends, if continued, could result in a modest upgrade, the agency said.
S&P said the ratings reflect OMI's significant, but managed, exposure to the volatile tanker spot markets, an active vessel construction program which is nearly complete, and participation in the high-risk bulk ocean shipping industry. These negative factors are partly offset by OMI's competitive position as a leading Suezmax and product tanker operator, good access to liquidity, and growing time charter business.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.