Moody's upgrades Navios Partners; corporate family rating at B2
Moody's Investors Service today upgraded corporate family rating of Navios Maritime Partners L.P. ("Navios Partners" or "NMM") to B2 from B3, as well as NMM's probability of default rating to B2-PD from B3-PD and the instrument rating for its term loan B due September 2020 to...Navios Maritime Partners is an international owner and operator of drybulk carriers. Co.'s fleet consists of 12 Panamax vessels, nine Capesize vessels, three Ultra-Handymax vessels and seven Container vessels. Panamax vessels are flexible vessels capable of carrying a range of drybulk commodities, including iron ore, coal, grain and fertilizer and of being accommodated in discharge ports, while Capesize vessels are dedicated to the carriage of iron ore and coal. Ultra-Handymax vessels are similar to Panamax vessels although with less carrying capacity and generally have self-loading and discharging gear on board to accommodate undeveloped ports.
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