Moody's: Corona outbreak poses severe challenge to CMA CGM's liquidity

Coronavirus and its impact on the container industry spell bad news for CMA CGM in its attempts to raise liquidity and lower its debt, Moody's tells ShippingWatch. Overall 2020 global GDP growth could be revised down to 1.4 percent.

Photo: PR / CMA CGM

Moody's expects that CMA CGM's attempts to improve its liquidity and lower its debts can be severely challenged if the coronavirus and the implications for the container market are not contained soon.

Two weeks ago, the French container carrier posted a result for 2019 showing a net deficit of USD 229 million, which was mainly attributed to the acquisition of Ceva Logistics and the new IFRS accounting standards imposed on companies last year.

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