Maersk A/S Given 'Stable' Long-term Credit Rating

MarineLink.com
Friday, September 27, 2013
Maersk logo

Moody's Investors Service and Standard & Poor's have initiated their credit ratings of A.P. Møller - Mærsk A/S by assigning long-term credit ratings of Baa1 and BBB+, respectively. Both ratings have "Stable" outlook.

These investment grade ratings reflect the A.P. Møller - Mærsk Group's scale, leading market positions, diversification of businesses, strong balance sheet, solid operating cash flow generation and a well balanced growth strategy, say the conglomorate.

The ratings have been assigned to A.P. Møller - Mærsk A/S as issuer, as well as its EUR 5bn EMTN program and all of its outstanding bonds in EUR, GBP, NOK and SEK.

Trond Westlie, Group CFO of A.P. Møller - Mærsk A/S, commented: "The assignment of these credit ratings by the agencies is a recognition of the strong market positions of the Group's various businesses and continues the increased transparency of the Group's financials given to the markets over the last years."

"Whilst A.P. Møller - Mærsk A/S already benefits from strong access to the debt capital markets with USD 5bn equivalent of bonds outstanding in European currencies, the public credit ratings will allow A.P. Møller - Mærsk A/S to diversify its debt investor base further, access the USD bond markets directly and achieve further improved terms for our funding. A sound financial policy, strong liquidity buffers and a clear strategic direction with a strong capital structure have all been instrumental in achieving these investment grade ratings today", he added.


 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Finance

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3175 sec (3 req/sec)