Moody's assigns B3 to Navios Maritime Partners' proposed term loan; outlook stable
London, 15 February 2017-- Moody's Investors Service, today affirmed the B3 corporate family rating of Navios Maritime Partners L.P. and assigned a B3 rating to the proposed $400 million term loan B due 2022 currently being marketed. Moody's has also changed the outlook for all ratings to stable from negative. This rating action follows Navios Maritime Partners' announcement of a refinancing of its senior secured term loan due 2018 with a new term loan due 2022. The terms of the new...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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