Standard & Poor's lowers CMA CGM for NOL acquisition
French carrier CMA CGM, the world's third largest container carrier, will see its profits squeezed over the next two years, just as liquidity will be tight in the coming months, projects Standard & Poor's, which has lowered the carrier's credit rating. The acquisition of NOL is cited as one reason.
BY OLE ANDERSEN
Standard & Poor's has lowered its long-term forecast for France's CMA CGM, the world's third largest container carrier, and the rating bureau has downgraded its rating of the carrier from "B" to "B+" to negative. The reason is the low rates in the container industry, which will put pressure on the carrier's profits in 2016 and 2017, while the liquidity in the coming quarters may be strained.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
Get full access for you and your coworkers
Start a free company trial todayRelated articles
Drewry: This is where all the new ships end up
For subscribers
CMA CGM increases ambitions in West Africa
For subscribers
CMA CGM delivers profit of USD 567 million
For subscribers
