Moody’s has expressed concerns about the level of debt at two of Japan’s largest public shipowners – Mitsui OSK Lines (MOL) and NYK.
As a consequence it has downgraded the rating of both shipowners following a review for downgrade initiated back in September 2018.
MOL has seen its corporate family rating lowered to Ba2 from Ba1, while NYK has been assigned a Ba1 corporate family rating, reflecting a one-notch lower rating than its Baa3 issuer rating.
