Moody’s Investors Service has initiated coverage of Nasdaq-quoted owner, which was stamped with a corporate family and probability of default rating of “B2”.
The agency issued the same grade for the Athens-based operator’s bonds, which will be secured by 11 vessels and mature in 2022.
“Concurrently, Moody's has assigned a provisional B2 rating, with a loss given default assessment of LGD4,50% to the proposed $260m worth of senior secured notes,” it said.
The
