News

S&P: DeloPorts’ corporate rating affirmed. Positive outlook

Standard & Poor’s (S&P) rating agency affirmed DeloPorts’ rating at “B+” with revised outlook from “stable” to “positive”.

The agency improved the outlook due to the increase of container and grain turnover at DeloPorts terminals in 2018. DeloPorts CEO Igor Yakovenko commented on the S&P revised “positive” outlook: “It is a sign of the improvement of the Company’s financial position compared to the agency’s analysis 6 months ago. We are gradually working to improve our operating and financial results. Growth in container turnover is in part planned due to launch of the new deep-water berth No. 38 at container terminal in mid 2019. It is a part of DeloPorts integrated investment program, the launch will allow increasing the capacity to 700 thous. TEUs annually. Development program of the grain terminal by 2021 implies the increase of handling capacity by 1.5 mln tones annually. We are creating new infrastructure and new opportunities for DeloPorts clients, although our results depend also on the market and macroeconomic situation”.

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