PSA International (PSAI) could see a decline in volumes of between eight and 10% this year, according to a new report by Moody’s.
Despite this, the Singapore terminal operator has seen its Aa1 rating affirmed by the ratings agency on the back of its strong government links.
“The affirmation reflects our expectations of very high support from Singapore's government as well as PSAI’s underlying credit strengths, as reflected by its diverse portfolio and strong market positions globally, which in turn underpin its strong profitability and resilience to economic downturns,” Ray Tay, Moody’s lead analyst for PSAI, said.
