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S&P downgrades CMA CGM

Ocean

Friday, June 15, 2012

The credit rating company Standard & Poor's said Thursday that it had downgraded the French container shipping line CMA CGM's long-term corporate credit rating to CCC+ from B-, saying its liquidity position deteriorated in the first quarter of 2012. "We expect that it will remain under strain over the coming months in the absence of corrective actions," said S&P. "The rating remains on CreditWatch with negative implications reflecting the possibility of another downg...

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