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

People & Company News

Piraeus Port Posts Flat Profit, Sales Dip

Greece's Piraeus Port (OLP) , the largest in the country, said its first-half net profit was almost unchanged from the same year-ago period, while sales fell. Piraeus Port,

Hyde Marine to Display Ballast Water Tech at SMM

Hyde Marine, Inc., a ballast water treatment technology company, will showcase its Hyde GUARDIAN Gold HG250G Ballast Water Treatment System (BWTS) at the upcoming Shipbuilding,

Report: Ports Lack Maintenance Support

The latest Barometer Report from Trelleborg has revealed a huge gap in the maintenance requirements of port owners and operators, and the support that suppliers are able to provide.

Finance

Piraeus Port Posts Flat Profit, Sales Dip

Greece's Piraeus Port (OLP) , the largest in the country, said its first-half net profit was almost unchanged from the same year-ago period, while sales fell. Piraeus Port,

Panama Canal: The Billion Dollar Challenge

Panama Canal expansion will cost operators, insurers As the Panama Canal prepares to celebrate its 100th anniversary, insurers are warning of the increased risks

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.3100 sec (3 req/sec)