Moody’s changes Eletson outlook to positive

Moody's Investors Service said it changed the outlook on the B3 corporate family rating, B3-PD probability of default rating and the B3 rating on the $300 million first-preferred ship mortgage notes due in 2022 of Eletson Holdings Inc. to positive from stable.

At the same time, the agency affirmed the ratings, including the B3 corporate family rating, B3-PD probability of default rating and B3 senior secured rating.

"The positive outlook reflects Eletson's material deleveraging since its rating assignment in December 2013, helped by a more favorable rates environment for tankers, and the expectation of further deleveraging during 2015," Moody's senior vice president and lead analyst for the issuer, Marie Fischer-Sabatie, said in a news release.

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