Moody’s lifts Capital Product

Moody's Investors Service said it upgraded the corporate family rating of Capital Product Partners LP to B1 from B2 and the probability of default rating to B1-PD from B2-PD.

The outlook is stable.

"Our decision to upgrade CPLP's rating follows an approximately $116 million debt repayment combined with a successful refinancing of its maturities with the new $460 million credit facility due 2023 thus extending its debt maturity profile," Maria Maslovsky, Moody's vice president, senior analyst and the lead analyst for Capital Product, said in a news release.

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