Moody’s lifts Capital’s rating up a notch

Debt repayments and a new credit facility have prompted Moody’s to raise the credit rating of Capital Product Partners LP (CPLP) up a notch.

The Evangelos Marinakis-led MLP has seen its corporate family rating upgraded to B1 and the probability of default rating to B1-PD.

“Our decision to upgrade CPLP’s rating follows a $116m debt repayment combined with a successful refinancing of its maturities with the new $460m credit facility due 2023 thus extending its debt maturity profile,” Moody’s said.