S&P: Windsor Petroleum notes on watch

Standard & Poor's said it placed its BB+ ratings on Windsor Petroleum Transport Corp.'s $239.1 million of secured term notes due Jan. 15, 2021 on Creditwatch with negative implications.

The Creditwatch listing does not affect the AA rating and stable outlook on the $111.7 million of secured serial notes due 2010, the agency said.

According to S&P, Windsor issued the notes and used the proceeds for some of the cost of building four VLCCs: the British Pioneer, British Progress, British Purpose, and British Pride.

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