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S&P lowers credit rating of Maersk Group

Credit ratings agency Standard & Poor's downgrades its rating of Maersk Group due to the dire container market. And the group could face further downgrades, warns the agency.

Photo: APM Terminals

US-based credit ratings institute Standard & Poor's downgrades its outlook for the credit rating of Maersk Group. This is because S&P is concerned that pressure on the seaborne container transportation market will continue.

Maersk was already put on the observation list this summer with the credit rating "BBB+" and a "negative" outlook. As pressure has not let up, Maersk is now given "BBB" which indicates that although the conglomerate will be split into two, this is not enough to keep S&P positive.

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