Press release
New Fortress Energy Announces Credit Rating Upgrade by S&P Global Ratings
NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today announced that S&P Global Ratings (“S&P”) has upgraded
About this update from New Fortress Energy Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today announced that S&P Global Ratings (“S&P”) has upgraded NFE’s issuer credit rating to ‘BB-’/Stable Outlook from ‘B+’.\n\nS&P based the rating upgrade on NFE’s growing cash flow as it supplies LNG volumes across a more diversified asset base. In the year since NFE’s previous ratings forecast, the Company has expanded its presence from 3 terminals serving 37 customers to 11 terminals operating or under development serving over 100 customers across 11 markets through acquisitions and advancement of projects in Brazil, Mexico and Nicaragua.\n\n“We are pleased to have been upgraded by S&P Global Ratings and their recognition that our terminals continue to add long term, reliable and growing cash flows to our strong operational performance,” said Wes Edens, Chairman and CEO of NFE. “Access to credit is increasingly important in securing long term gas contracts to serve our growing customer base and improved ratings are meaningful to our core business. We expect continued significant organic growth through our existing terminals and new terminals in Brazil, Ireland and Sri Lanka will add to our ability to support our customers’ transition to cleaner energy and generate additional cash flow over the next 12 to 18 months.”\n\nAbout New Fortress Energy Inc.\n\nNew Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.\n\nCautionary Statement Concerning Forward-Looking Statements\n\nCertain statements contained in this press release constitute “forward-looking statements” including our ability to develop and operate new terminals in Brazil, Ireland and Sri Lanka; our ability to add customers and achieve long term reliable and growing cash flows. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties ...