Fitch turns LimakPort view to negative

Fitch Ratings said it removed its ratings for Limak Iskenderun Uluslararasi Liman Isletmeciligi AS (LimakPort) from rating watch negative and assigned a negative outlook. The agency also affirmed the B rating on its $370 million in senior secured notes.

“The negative outlook reflects uncertainties over the insurance payments and remaining capital expenditure (capex), coupled with the operating environment and the development of competition in the catchment area, which may increase pressure on medium- and longer-term debt service coverage metrics,” Fitch said in a press release.

© 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.