Container Shipping: Moody’s Upgrades Hapag-Lloyd to ‘Ba3’

The rating agency Moody’s Investors Service (Moody’s) has upgraded the credit rating of Hapag-Lloyd AG by one notch from ‘B1’ with a negative outlook to ‘Ba3’ with a stable outlook. This is the highest credit rating that Hapag-Lloyd has received since Moody’s introduced the ratings in 2010.

(Hamburg) – Moody’s acknowledged that the container shipping market, and particularly Hapag-Lloyd, has developed very strongly and better than expected amid the pandemic. As a result, Hapag-Lloyd’s credit metrics further improved in the first half of 2020. The rating action also takes into account Hapag-Lloyd’s cautious financial policy, which has been reflected in significant debt reduction efforts in recent years.

Just last week, the rating agency Standard & Poor’s (S&P) upgraded Hapag-Lloyd’s credit rating from ‘B+’ to ‘BB-‘ with a positive outlook.

“We are very pleased that both Moody’s and S&P have recognized our long-term efforts to improve our balance sheet through continuous operational improvements and debt repayment. For the future, we are committed to further enhancing our credit quality. By consistently implementing our Strategy 2023, we will be able to achieve this goal,” said Mark Frese, CFO of Hapag-Lloyd AG.

www.moodys.com   www.hapag-lloyd.com/de/

Photo: © Hapag-Lloyd AG