Moody’s upgrades Hapag-Lloyd to ‘Ba1’

The rating agency Moody’s Investors Service (Moody’s) in late December raised Hapag-Lloyd’s credit rating by one notch from ‘Ba2’ to ‘Ba1.’ This is the highest credit rating assigned to Hapag-Lloyd since the rating initiation by Moody’s in 2010. Additionally, the senior unsecured bond rating was raised from ‘Ba3’ to ‘Ba1.’ The ratings have been assigned a ‘stable’ outlook.

With the improved ratings, Moody’s acknowledged that Hapag-Lloyd has performed strongly in a challenging geopolitical environment. Hapag-Lloyd’s continued prudent balance sheet management and strong liquidity position were also positively emphasised. The upgrade of the bond rating by two notches was mainly due to the high proportion of unencumbered assets.

“We are very pleased that Moody’s has once again recognized Hapag-Lloyd’s earning power as well as its vigorous balance sheet and liquidity management with an upgrade,” said Mark Frese, CFO/CPO of Hapag-Lloyd AG. “We will stick to our prudent financial policy and work intensively to continue improving our competitive and cost position as part of our Strategy 2030.”