• Standard & Poor's "positive outlook" makes Hamburg cheer.


Artikel Nummer: 33545

Confidence in shipping on the rise

Carriers seem to be finding the way out of the valley of tears, gradually. One of the Big Three in Ratings, the Agency Standard & Poor’s (S&P), has just upgraded its perspective on the carrier Hapag-Lloyd.


The shipping company's credit rating was raised one notch from ’B+‘ to ‘BB-’ with a ‘positive’ outlook. This is "the highest credit rating assigned to Hapag-Lloyd since the research was initiated by S&P in 2010", the shipping company said in a press release.


Additionally, the senior unsecured bond rating was raised to ‘B’ from ‘B-‘. S&P banked its judgement on the carrier's ebitda performance in 2020, cash flow generation and the gradual reduction of debts. (cd)







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