S&P: Navios Maritime CFR B+, loan BB-

Standard & Poor's said it assigned its B+ long-term corporate credit rating to Navios Maritime Midstream Partners LP.

The outlook is stable.

In addition, the agency assigned its BB- issue rating to Navios Midstream's proposed $205 million term loan. The recovery rating on the loan is 2, reflecting an expectation of substantial recovery, in the lower half of the 70%-90% range, in the event of payment default.

S&P said the rating reflects its assessment of Navios Midstream’s business risk profile as "weak" and its financial risk profile as "significant." The assessment assumes that the company will complete as proposed its debt-funded acquisition of two additional very large crude carriers, the agency said.

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