Moody’s has upgraded its corporate family and senior unsecured bond ratings on Hapag-Lloyd.
The rating agency said the changes acknowledged the container line’s progress in integrating United Arab Shipping Company Limited, while cutting debt and generating positive cash flow.
Nicolas Burr, chief financial officer at Hapag-Lloyd, said: “Going forward, a consistent cost management and deleveraging effort will remain important goals of our financial agenda as we further progress in the implementation of our Strategy 2023.”
