Moody's upgrades CMA CGM's rating

The world's third largest container carrier, France's CMA CGM, can now note an increased rating from Moody's as the bureau believes in the carrier's potential to deliver results in a tough market.

The positive developments at major French container carrier CMA CGM now make rating bureau Moody's upgrade its rating of the carrier from B2 to B1.

Moody's says in a statement that the upgrade is attributed to the positive economic developments at CMA CGM, which until a year ago looked set to be part of the P3 alliance alongside Maersk Line and MSC.

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