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EMPRESA NAVIERA ELCANO SA

Type of ratings: Corporate

Rating value: BB+

Outlook: Stable

License: EthiFinance Ratings

Solicited

EthiFinance Ratings affirms Empresa Naviera ElCano rating in "BB+", maintaining its Stable outlook. Group dedicated to the international maritime transport of raw materials in bulk. The activity is carried out through its own fleet and through third-party fleets contracted on a time or voyage basis. At the end of the 2022 financial year, the company had a turnover of $974.9MM with an EBITDA of $81.8MM and a DFN/EBITDA ratio of 4.3x.

Ratings

Rating action: Affirmed

Action date: 2023-05-24

Date last rating: 2023-05-24

Date first rating: 2016-07-06

Documents

Executive summary:

Methodology

Corporate Rating Methodology

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