Source: Date: Updated: |
Reuters
Tuesday, December 4, 2012 Tuesday, December 4, 2012 |
OVERVIEW — Ultrapetrol (Bahamas) Ltd. recently announced an agreement with Southern Cross Group that may result in a $220 million capital injection in the company.
— We are placing our ‘B-‘ issuer credit rating on Ultrapetrol on CreditWatch with developing implications. — We will resolve the CreditWatch placement as the uncertainties regarding the transaction’s closing dissipate and, if the transaction closes, when we have more information regarding the agreement’s impact on the company’s stakeholders.
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