Moody's rates Overseas Shipholding notes Ba3

Moody's Investors Service said it assigned a Ba3 senior unsecured rating to the planned $300 million senior unsecured notes due 2018 issued by Overseas Shipholding Group, Inc. Moody's also said it affirmed its existing debt ratings and assigned a provisional Ba3 rating to the senior unsecured shelf under which the notes are being offered.

The outlook is negative.

The proceeds will go toward the reduction of the outstanding balance on its $1.8 billion senior unsecured revolving credit due February 2013, Moody's said.

© 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.