Fitch Ratings has affirmed at ‘A’ Autoridad del Canal de Panama’s (ACP) Long-Term Issuer Default Rating (IDR) and the rating on USD450 million senior unsecured notes. Additionally, Fitch has affirmed ACP’s Standalone Credit Profile (SCP) at ‘aa’. The Rating Outlook is Negative. RATING RATIONALE The ratings reflect an underlying asset that is critical, not only […]
Deputies of the Panamanian Assembly approved in third debate the bill creating the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing. The services of these multinationals will be able to be developed in different provinces of the country and will work in product manufacturing, equipment […]
For Yordany Castillo Leyva, the decision to leave Cuba was a question of life and death. As a former forensic medical examiner, Castillo had seen his share of dead bodies. Two years into his job at a Havana hospital, he said he noticed something strange about some of the victims brought to his autopsy table. […]
As if it were just one more case in the Accusatory Criminal System, the Panamanian justice is airing a process on influence peddling to obtain favorable rulings in the Supreme Court of Justice. In a case in which supposedly there are those who pay for the judgments, and there are intermediaries, the signatory of the […]
In an auction process in which more than 200 investors from different parts of the world participated, the bank placed the debt at a rate of 2.5% for a 10-year term. This transaction is the first international bond issue in the capital markets of Banco Nacional in its almost 116 years of existence and represents the largest issue that […]
Panama, through which tens of thousands of migrants pass each year on their journeys north, is increasingly becoming the destination for Nicaraguans who have chosen to seek refuge by moving south. Since the U.S. has tightened immigration restrictions on its southern border, migrants have sought alternative locations such as Panama and Costa Rica, two of the more […]
The National Assembly approved in third debate the draft law establishing temporary employment protection measures in companies affected by covid-19. The initiative presented by the Executive received several modifications in its original content, both in the first and second debate, leaving the deputies with the reservation that these are temporary rules and are not intended to a future reform […]
While the rest of the country endured frequent downpours during the month of July rainfall in the Panama Canal watershed was 13.7% below the historical average. According to the, monitoring rainfall in the basin, so far this year, June was the only month when it reached 20% above average rainfall. In the rest of the […]
Earlier this month, the Panama Canal joined virtual informal talks organized by the International Maritime Organization (IMO). Although focused specifically on short-term measures for reducing GHG from ships, the discussions brought momentum back to the broader, industry-wide efforts around the decarbonization of shipping. These milestones, combined with recent industry announcements, not only signal a turning […]
The annual Best of Panama tasting has produced a new king of Geisha coffee which last year was auctioned for a record price of $1,029 a pound. This year’s auction will be in September. The tasting was to have taken place in May, drawing tasters from around the world to Panama. but in the midst of the […]