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Moody's lowers credit rating for Ceva Logistics

Credit rating agency Moody's has lowered the rating of CMA CGM's logistics company Ceva Logistics. Moody's holds that the French carrier may have to send additional funds to the company, which it acquired a year ago.

Photo: PR / Ceva Logistics

Moody's believes that the outlook for Ceva Logistics is so dark that the credit rating agency has lowered its rating from B3 to Caa1 "with a negative outlook".

The downgrade comes at the same time as Moody's doubts whether Ceva's owner, French container line CMA CGM, can maintain its own credit rating.

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