Drop in traffic, revenue triggers change in B.C. Ferries credit rating
The agency cited the significant impact of the COVID-19 pandemic and the uncertainty surrounding the pace of recovery in downgrading the trend of B.C. Ferries’ issuer and senior secured bonds ratings.
“These rating actions reflect the forecasted impact to the company’s financial performance for the fiscal of COVID-19, while recognizing the company’s current healthy cash position and strength to cover all financial obligations in the year, along with its strong enterprise risk and financial risk profile,” Marshall said. “It is expected both will continue to monitor and revisit these ratings as we all respond and recover from the pandemic.
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