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