Ratings agency Moody’s Investors Service has upgraded V.Group’s credit rating as it makes “strong” progress on profitability.
Improved liquidity was also a factor in increasing the rating to B3 to Caa1, with a stable outlook.
The agency said 2022 saw better revenue and earnings, as well as a strategic decision to focus on providing its range of services to the existing customer base, as opposed to “singularly focusing on increasing the number of vessels under management.”
