Moody's: One single big customer hurts Danish Ship Finance's rating
A significant concentration with few major lenders hurts the credit rating of Danish Ship Finance, according to rating bureau Moody's.
BY OLE ANDERSEN, SHIPPINGWATCH, AND DAVID HAUGSTED BENTOW, FINANSWATCH
A high concentration with only a few lenders in relation to total loans is one significant reason that rating bureau Moody's credit rating for Danish Ship Finance is extremely low. In 2013 one single customer accounted for 35-40 percent of the shipping bank's total exposure, while the five biggest debtors accounted for 44 percent of total gross lendings.
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