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Seaspan Achieves Investment Grade Rating Upgrade from KBRA
Kroll Bond Rating Agency upgraded Seaspan's issuer and senior unsecured debt ratings to BBB- from BB+ and affirmed its BBB senior secured debt rating.
The upgrade highlights Seaspan's growth, strong contracted cash flow, funding flexibility, high utilization, and consistent operational performance.
KBRA noted Seaspan's larger scale, expanded unencumbered fleet, longer charter durations, varied funding sources, and resilience through market cycles as reasons for the upgrade.
Seaspan's CFO Andreas Brauch stated the upgrade shows disciplined strategy execution, a resilient business model, and strong cash flows with key customers.