The rating agency Moody’s Investors Service has raised Hapag-Lloyd’s credit rating by one notch from ‘Ba2’ to ‘Ba1’.
This is the highest credit rating assigned to Hapag-Lloyd since the rating initiation by Moody’s in 2010. Additionally, the senior unsecured bond rating was raised from ‘Ba3’ to ‘Ba1’, with the ratings assigning a ‘stable’ outlook.
With the improved ratings, Moody’s acknowledged that Hapag-Lloyd has performed well in a challenging geopolitical environment. The German shipping company’s continued prudent balance sheet management and strong liquidity position were also positively emphasized.
The upgrade of the bond rating by two notches was mainly due to the high proportion of unencumbered assets, according to the announcement.
“We are very pleased that Moody’s has once again recognized Hapag-Lloyd’s earning power as well as its vigorous balance sheet and liquidity management with an upgrade. We will stick to our prudent financial policy and work intensively to continue improving our competitive and cost position as part of our Strategy 2030,” stated Mark Frese, CFO/CPO of Hapag-Lloyd AG.
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