Tanger Med Port Authority (TMPA) has received public investment-grade credit ratings from Moody’s Ratings and Standard & Poor’s Global Ratings for the first time.
The ratings are expected to help the port operator raise money from international financial markets to fund future expansion projects.
Moody’s gave TMPA a Baa3 rating with a stable outlook. It also gave the company a Baa1 intrinsic assessment, showing its standalone financial strength is higher than its final rating.
S&P assigned TMPA a BBB- rating with a stable outlook. It rated the company’s standalone credit profile at BBB, one notch higher than the country’s sovereign rating.
Both agencies highlighted Tanger Med’s location on major shipping routes linking Europe, Africa, Asia and the Americas. They also pointed to its position as the biggest transshipment port in the western Mediterranean.
TMPA’s customer base was another key factor. The company works with major global shipping lines including A.P. Moller-Maersk, CMA CGM and Hapag-Lloyd under long-term concession agreements. The agencies also noted that TMPA’s flexible pricing policy helps it cope with changes in global shipping demand.
The ratings also recognised the port’s role in connecting the country to global supply chains and supporting international trade.
TMPA said it started the rating process more than four years ago. The company said publishing the ratings is part of its efforts to improve financial transparency, strengthen corporate governance and build investor confidence ahead of future development projects.
TMPA is a subsidiary of Tanger Med Special Agency. It operates Tanger Med 1, the passenger and roll-on/roll-off port, and Tanger Med 2.
