The credit rating agency noted the Canal's strong operating track record and robust growth after the Expansion. Factoring into its decision, Moody's cited "the Canal's unique role in waterborne trade especially for the container cargo Northeast Asia-US East Coast route and its ensured long-term viability as a result of the Expansion Program's completion." "Once again the credit rating agency confirms the great operational and financial strength of the Canal and recognizes that the robust institutional structure and governance continue to be key to the success of the Panama Canal Authority," said Panama Canal Vice President of Finance Francisco J. Miguez.