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First Ship Lease Trust's S&P ratings lowered

Rating agency's move follows loan covenant breach

STANDARD & Poor's (S&P) Ratings Services yesterday lowered the long-term corporate credit rating of First Ship Lease Trust (FSL) to "B-" from "B".

S&P also lowered the long-term Asean regional scale rating on the Singapore-based ship leasing trust to "axB-" from "axB+". The...

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