Moody's Investors Service has upgraded the corporate rating of Navios Maritime Holdings after its $305m bond sale.
The rating has been moved to B3 from Caa1, and the probability of default rating to B3-PD from Caa1-PD.
The outlook is stable, the agency said.
"Navios Holdings successfully placed its senior secured bonds addressing its largest near-term maturity," said senior analyst Maria Maslovsky.
