Yesterday the pair sealed their long-awaited merger to create a Hamburg headquartered company controlling 200 vessels with a combined annual turnover of around EUR 9bn ($12.4bn).
However Moody’s believes the unified company will still be highly leveraged and has retained its B2 corporate family rating (CFR) on Hapag-Lloyd as well as a B2-PD probability of default rating (PDR) and a Caa1 senior unsecured rating, all of which it deems negative.
"Moody's
