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International Seaways, Inc. — Moody’s withdraws International Seaways’ ratings for business reasons

Rating Action: Moody’s withdraws International Seaways’ ratings for business reasonsGlobal Credit history Analysis – 10 Dec 2021New York, December 10, 2021 — Moody’s Buyers Service (“Moody’s”) withdrew its ratings for Intercontinental Seaways, Inc. (“INSW”), including the B3 company loved ones score and Caa1 ranking on the senior unsecured bonds. Prior to the withdrawal, the outlook was steady.Withdrawals:..Issuer: Intercontinental Seaways, Inc….. Company Relatives Ranking, Withdrawn, beforehand rated B3…. Speculative Quality Liquidity Rating, Withdrawn, beforehand SGL-2…. Senior Unsecured Regular Bond/Debenture, Withdrawn, beforehand Caa1Outlook Steps:..Issuer: Global Seaways, Inc…..Outlook, Modified To Rating Withdrawn From StableRATINGS RATIONALEMoody’s has made the decision to withdraw the scores for its personal business factors. You should refer to the Moody’s Traders Provider Plan for Withdrawal of Credit rating Rankings, offered on its web site, www.moodys.com.Intercontinental Seaways, Inc., a Marshall Islands company, is a foremost service provider of ocean-primarily based transportation of crude oil and refined petroleum in the worldwide market place. It operates its company beneath two segments: global crude tankers and international solution carriers. On July 16, 2021, the firm merged with Diamond S Shipping, Inc. in an all inventory transaction. The merged fleet has 97 vessels of various courses, which includes ownership pursuits in two floating production storage vessels by means of joint enterprise partnerships. Whole professional forma profits is anticipated to be about $375 million for the period ending December 2021.REGULATORY DISCLOSURESFor any affected securities or rated entities obtaining direct credit score help from the key entity(ies) of this credit history rating action, and whose scores might adjust as a consequence of this credit rating score action, the affiliated regulatory disclosures will be those of the guarantor entity. Exceptions to this tactic exist for the adhering to disclosures, if applicable to jurisdiction: Ancillary Products and services, Disclosure to rated entity, Disclosure from rated entity.The rankings have been disclosed to the rated entity or its specified agent(s) and issued with no amendment ensuing from that disclosure.These scores are unsolicited. Be sure to refer to Moody’s Plan for Designating and Assigning Unsolicited Credit history Ratings out there on its web-site www.moodys.com.Regulatory disclosures contained in this press launch apply to the credit score score and, if applicable, the connected rating outlook or score review.Moody’s typical concepts for examining environmental, social and governance (ESG) threats in our credit history analysis can be located at http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1288235.The World Scale Credit history Rating on this Credit rating Rating Announcement was issued by one of Moody’s affiliate marketers outside the house the EU and is endorsed by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Ranking Businesses. 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