DBRS Assigns Provisional Rating to Senior Loans of Zim Shipping Finance Limited

DBRS, Inc. (DBRS) has today assigned a provisional rating of A (sf) to the Senior Loans of Zim Shipping Finance Limited (the Borrower). This transaction is multi-jurisdictional, backed by shipping industry trade receivables that were reviewed for their ability to perform within certain thresholds for loss reserves, carrying costs and dilution as well as other factors specific to the trade receivables portfolio. Deutsche Bank Luxembourg SA (Deutsche Bank) is acting as the Initial Committed Lender.

The above ratings are provisional. Final ratings will be issued upon receipt of executed versions of the governing transaction documents. To the extent that the documents and information provided by the Borrower and Deutsche Bank to DBRS as of this date differ from the executed versions of the governing transaction documents, DBRS may assign a lower final rating to the Senior Loans or may avoid assigning a final rating to the Senior Loans altogether.

Notes:
The principal methodology is Trade Receivables, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.