Moody's lifts Global Ports view to stable

Moody's Investors Service said it changed the outlook to stable from negative on the Ba3 corporate family rating, Ba3-PD probability of default rating and Ba3 senior unsecured instrument ratings on Global Ports Investments plc.

The outlook revision reflects the company's gradual process of de-leveraging, which started in 2018, Moody's said, and was underpinned by its improving operating performance and conservative financial policy.

The robust recovery in the container market amid a stabilizing domestic economy helped the company accelerate growth in its container volumes in first half of 2018 to 16% from 7% in 2017, the agency said.

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