Moody’s lowers Maersk rating
Credit agency downgrades the container and logistics’ giants rating to Baa3 in recognition of the ‘volatile and cyclical business’ of boxshipping. However, Moody’s credits Maersk with its integration strategy and successful takeover of Hamburg Süd, ensuring its ratings outlook remains stable
The ratings agency said the financial flexibility offered by $5bn worth of Total shares is also positive, allowing Maersk to protect its balance sheet as it continues its transformation
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