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KBRA gives Seaspan notes BB+
Kroll Bond Rating Agency said it gave a BB+ rating to Seaspan Corp.’s $750 million of senior unsecured notes due August 2029. The bonds were sold in July.
“The rating for the senior unsecured notes is aligned with the issuer rating of BB+ and reflects the quality of assets in the portfolio along with the amount of unsecured assets which would support better than average recover prospects in a stress scenario,” KBRA said in a press release.
Seaspan may use the proceeds on eligible projects that include LNG or other alternative- and duel-fueled vessels. The company hired Sustainalytics as a third party to provide a final report on its alignment with ICMA’s Green Bond Principles 2021 and Climate Transition Finance Handbook 2020.
The outlook is stable.
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