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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Young Taken on PESA Advisory Board

Hoover Container Solutions’ chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association (PESA) Advisory Board for a three-year term.

US Navy Tests Latest Aegis Weapon System

The U.S. Navy conducted a series of cooperative air defense test exercises with the Spanish navy that culminated in live missile firing events using the latest Aegis Weapon System baseline July 20-21.

Antwerp Port CEO Scoops Baron Title

After 25 years as CEO of Antwerp Port Authority, Eddy Bruyninckx has been raised to the nobility by H.M. the king of Belgium with the rank of baron. In Belgium

Finance

Turkey’s Role for the Tanker Market

Even though the coup attempt in Turkey  failed and the transportation situation normalized quickly thereafter, Poten & Partners take a look at the importance of Turkey tothe tanker market.

China’s One Belt, One Road: Will it Reshape Global Trade?

The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and

IOC Mulls Buying GSPC's Stake in Mundra Terminal

Indian Oil Corporation (IOC), the country's largest oil company,  is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0905 sec (11 req/sec)