Eighteen months after the expansion of the Panama Canal began to operate, its performance exceeded expectations. According to a new Moody’s Investors Service report, the total tonnage of the channel increased 22% in fiscal year 2017 (from October 2016 to September 2017), as its capacity more than doubled, with a clear positive credit impact.
The performance of the Panama Canal Authority (ACP, A2 stable) exceeded the projections, with an increase of 15% of revenues in fiscal year 2017, which resulted in financial indicators stronger than expected. “Solid performance will have a domino effect on US ports and cargo ships, and international trade will further benefit the channel,” says Adrián Garza, Vice President and Senior Analyst at Moody’s.
The ACP expects revenues to exceed $ 3 billion for