Eric Ballantine
Eric Ballantine
aggressive aging financial horizon lines modest ratings reflect shipping
Ratings on Horizon Lines reflect its aggressive financial profile, modest financial flexibility, participation in the capital-intensive and competitive shipping industry, and an aging fleet.
filing looking market
The uncertainty on the filing is probably what the market is looking at.
appears believe company cure currently default period potential resolve unable
We currently believe that Navistar will resolve the potential default well before the 60-day cure period ends. If it appears that the company will be unable to resolve this potential default quickly, or if the company's liquidity were to become a concern, a multiple-notch downgrade is possible.
appears company current monitor potential progress prompt reaching resolve sources unable
We will monitor Navistar's progress in reaching a prompt resolution, as well as its current and prospective sources of liquidity. If it appears that the company will be unable to resolve these potential defaults quickly, or if the company's liquidity were to become a concern, a multiple-notch downgrade is possible.