Fitch Updates Oil Vessel Financing Criteria
Posted by Eric Haun
Friday, December 19, 2014
Fitch Ratings has published the latest version of its criteria for rating oil vessel backed financings in Latin America. This report updates and replaces the prior criteria of the same name dated Jan. 14, 2014.
There have been no substantial changes from the previous version, and therefore, Fitch expects no impact on existing ratings.
The report outlines Fitch's approach to rating transactions backed by long-term charter and/or services agreements related to offshore vessels used in different stages of the oil exploration and production (E&P) chain in Latin America. The criteria report outlines the qualitative and quantitative factors relevant to analyzing oil vessel-backed financings. Offshore vessels include drilling rigs, Floating-Production Storage and Offloading (FPSO) units, and shuttle tankers, among others.
The full report, 'Criteria for Rating Oil Vessel Backed Financings in LatAm,' is available at fitchratings.com.