Fitch Ratings expects to rate Caucedo Investments Inc.’s (Caucedo) US$180 million senior secured notes ‘BB-‘. The rating outlook is stable.
Caucedo’s geographic location in the Caribbean and adequate intermodal capabilities and inland accessibility enable Caucedo (the port) to lead the port market share in the Dominican Republic. Its proximity to Santo Domingo, the country’s main economic center, allows the port to serve local markets efficiently.
Greater market participation and strong financial performance have also resulted from DP World’s adequate operation and management.
Significant recent infrastructure improvements will further strengthen the port’s competitive position. Led by experienced counterparties and funded with equity, renovated facilities are aimed at keeping the port’s attractiveness to major shipping lines, capturing greater local traffic (Origin and Destination; O&D), and transshipment (HUB) activities.
Adequate planning for lesser capital works is in place, including the acquisition of an additional Super Post-Panamax crane, dredging improvements, and additional yard area for future expansion and greater capacity.
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Dredging Today Staff, January 25, 2012;