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Thursday, July 9, 2020

Moodys Investors Service Inc News

Image: Ørsted

Orsted Raises $660m Green Finance

Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.The latest issue will have a maturity in 3019 and first call option after eight years, the Danish energy company said.Investments undertaken by Ørsted A/S in green renewable energy projects will be allocated to the new issue corresponding to the amount issued in accordance with Ørsted’s Green Finance Framework, which has received a second opinion with a Dark Green shading from Cicero.Ørsted A/S is rated Baa1…

Palm Beach Port

Moody Upgrades Port of Palm Beach

The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable. The report, released October 2, 2015, documented the port’s strengths, challenges and recent developments as the agency’s rationale for the ratings upgrade. The upgrade to Baa3 recognizes the port’s sustained financial improvement due to successful contract renewals with its largest customers.

Moody Upgrades Port of Palm Beach

The Port of Palm Beach District announced that Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable. The report, released October 2, 2015, documented the port’s strengths, challenges and recent developments as the agency’s rationale for the ratings upgrade. The upgrade to Baa3 recognizes the port’s sustained financial improvement due to successful contract renewals with its largest customers.

Moody’s Upgrades Port Canaveral’s Bond Rating

Moody’s Investors Service has upgraded Canaveral Port Authority’s $30.2 million in outstanding revenue bonds to A2 from A3 and rated its financial outlook stable. The upgrade was attributed to low leverage, cruise growth, stable finances and proactive capital plan management. Port Canaveral’s five-year capital plan totals nearly $600 million, which will be financed with a combination of grants, matching funds, cash flow and unrestricted cash balances. The major current project is a new cruise terminal for Royal Caribbean, which is paying half of the $105 million total cost.