Global Hunter Securities Upgrades Genco Shipping (GNK) to Neutral; Risk Removed

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Global Hunter Securities upgraded Genco Shipping (NYSE: GNK) from Reduce to Neutral.

Analyst, Natasha Boyden, said, "We are upgrading GNK to a Neutral rating as the company's amendment to its credit facilities' amortization profile eases liquidity pressures on the company through 2013. This, combined with GNK's lower stock price, makes us more confident that downside risk from here is reduced."

For an analyst ratings summary and ratings history on Genco Shipping click here. For more ratings news on Genco Shipping click here.

Shares of Genco Shipping closed at $3.00 yesterday, with a 52 week range of $2.09-$10.14.

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