ICR raises credit risk rating for CSAV
Improved from category A- to category A, maintaining the Stable trend.
Santiago, December 7, 2023 | The risk rating agency ICR reported its decision to increase the solvency and bond classification of Compañía Sud Americana de Vapores (CSAV) from category A- to category A, maintaining the Stable trend.
As explained by ICR, the change occurs after the recent announcement by CSAV, which reported on the early redemption of the series C bonds, an operation for US$ 100 million that will be completed on December 26. “Given this, the company will have no debt and will therefore no longer depend on Hapag-Lloyd (HLAG) to meet its obligations,” he highlighted.
You can review the report here.