Moody's eyes North Queensland for trim

Moody's Investors Service said it placed the Ba2 senior secured rating of North Queensland Export Terminal Pty Ltd. (NQXT) under review for downgrade. The agency changed the outlook to under review from negative.

"The review considers the refinancing challenges faced by NQXT as maturity of its $500 million bond approaches in December 2022, particularly given the rising ESG risks facing the terminal that are increasingly limiting investor appetite," said Arnon Musiker, a Moody's senior vice president, in a press release.

NQXT management continues working on a refinance plan, though there is currently no underwritten take-out of the maturing debt in place, the agency noted.

© 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.