#Singapore #Seaspan Corporation #Investment Grade #KBRA

Seaspan Corporation Achieves Significant Investment Grade Rating Upgrade from KBRA

Overview
Seaspan Corporation Pte. Ltd., a global leader in the marine transportation sector and the single largest independent owner and operator of containerships worldwide, has recently been upgraded by the Kroll Bond Rating Agency (KBRA). This noteworthy upgrade elevates Seaspan's issuer and senior unsecured debt ratings from BB+ to BBB-, while also affirming its BBB senior secured debt rating.

Key Factors Behind the Upgrade

The rating increase reflects various strengths within Seaspan’s business model and operational strategy. KBRA highlights several critical reasons for this significant upgrade:

• - Continued Growth: Seaspan has demonstrated consistent expansion, especially in its fleet and operational capabilities.
• - Strong Cash Flow Profile: The company maintains a robust contracted cash flow situation, crucial for sustaining its financial stability.
• - Funding Flexibility: Seaspan benefits from diversified funding sources, allowing it to adapt to shifting market conditions.
• - High Utilization Rates: The company enjoys high levels of fleet utilization, positively impacting its profitability.
• - Resilience: Seaspan has shown remarkable resilience throughout various market cycles, proving its operational capabilities.

Quotes from Management

Andreas Brauch, the Chief Financial Officer of Seaspan, expressed that this upgrade is a crucial milestone and a testament to the disciplined execution of Seaspan's long-term strategy. He emphasized the importance of the company’s resilient business model and the security of strong contracted cash flows with key customers.

“This upgrade is an important milestone for Seaspan and is a testament to the disciplined execution of our long-term strategy, our resilient business model, and strong contracted cash flows with our key customers,” said Brauch.

Achieving investment-grade status with KBRA is a reflection of Seaspan’s operational strength and commitment to fostering a solid financial profile while continuing to invest in strategic growth opportunities.

Ongoing Focus on Fleet Expansion

As Seaspan moves forward, it continues investing in fleet expansion and the modernization of its vessels. This commitment to providing efficient, reliable, and environmentally advanced vessels solidifies Seaspan's position as a preferred partner for numerous leading shipping lines.

With the rating upgrade, Seaspan not only assures its investors and stakeholders of its unwavering dedication to maintaining a strong financial foundation but also reinforces its intention to pursue opportunities that enhance customer value and foster long-term quality growth.

About Seaspan Corporation

Founded to lead the maritime industry, Seaspan Corporation is pioneering in the maritime asset ownership sector, focusing on long-term, fixed-rate leases to leading global shipping lines. As of June 30, 2026, Seaspan’s fleet consists of 247 vessels, coupled with upcoming deliveries that include varied types like Pure Car, Truck Carriers, and Very Large Ethane Carriers, showcasing a total fleet capacity of approximately 2.5 million TEU on a fully delivered basis.

This impressive fleet capacity got built while ensuring environmental sustainability and reliability, hallmarks of Seaspan’s operational ethos.

In conclusion, Seaspan's investment grade rating upgrade from KBRA marks a significant achievement, highlighting its operational strengths, adaptability, and strategic foresight in the marine transportation industry. As the company continues to grow and innovate, it remains steadfast in its mission to deliver exceptional value to its customers and stakeholders alike.