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Seaspan Corporation's Upgrade to Investment Grade by KBRA

Seaspan Corporation Pte. Ltd., a renowned global leader in marine transportation, has recently announced an exciting development in its financial standing. The Kroll Bond Rating Agency (KBRA) has upgraded the company’s issuer and unsecured senior debt ratings from BB+ to BBB-. This upgrade also confirmed the BBB rating of Seaspan's secured senior debt, marking a pivotal moment for the organization that has established itself as the world's largest independent owner and operator of containerships.

The upward revision is a direct reflection of Seaspan's ongoing growth and strong operational resilience. It highlights several key factors: the effectiveness of Seaspan’s long-term strategy, robust cash flow from contractual revenues, and the company's financial flexibility. These attributes are critical in navigating the complexities of the maritime transport industry, especially given the market's cyclical nature.

KBRA's analysts cited multiple reasons for this upgrade, including:

• - Continued Growth: Seaspan's relentless expansion is evident in its growing fleet and increasing market share. The company's commitment to acquiring and modernizing its vessels ensures it remains competitive.
• - High Utilization Rates: Seaspan has maintained exceptional utilization rates across its fleet, which demonstrates its operational efficiency and attracts prestigious clients.
• - Diverse Funding Sources: The company has broadened its avenues for financing, allowing it to pursue various strategic opportunities.
• - Long-term Contracts: Seaspan's strategy of establishing long-term, fixed-rate contracts with major shipping lines supports predictable revenue streams.

Andreas Brauch, Seaspan's Chief Financial Officer, remarked, “This upgrade is a significant milestone for Seaspan and reflects the rigorous implementation of our long-term strategy. This rating from KBRA underscores the strength of our cash flows defined by our key clients.” He emphasized that the company's operational platform remains sturdy as it continues to pursue quality growth opportunities while preserving a strong financial profile.

The announcement of this rating upgrade comes at a time when Seaspan is heavily investing in expanding and modernizing its fleet. This commitment underscores the company's dedication to providing its customers with efficient and environmentally friendly vessels. Particularly now, as sustainability becomes a crucible for success within the shipping industry, Seaspan's forward-thinking strategies and investments signal its preparedness for future challenges and opportunities.

Seaspan Corporation stands as a prominent player in the global maritime industry, distinguished for its specialization in long-term, fixed-rate charters to some of the world’s leading shipping companies. As of June 30, 2026, Seaspan's operational fleet consisted of 247 vessels, reflecting the expected capacity increases due to subsequent deliveries of newly commissioned vessels, including car-carrying ships and large ethane carriers.

In conclusion, Seaspan's upgraded investment grade rating by KBRA not only validates its strategic initiatives but also fortifies its reputation in the maritime sector. As the company continues to navigate through a complex market landscape, it remains committed to enhancing customer value and achieving sustainable growth in the long run.

For detailed information on the KBRA report and Seaspan’s financial outlook, interested parties can consult the agency’s official ratings publication.