S&P revises Hapag-Lloyd outlook to 'negative'

Benchmarking

Wednesday, September 21, 2011

Rating agency Standard and Poors said Tuesday it has revised its outlook on German containership operator Hapag-Lloyd to negative from stable. At the same time, it affirmed the BB- long-term issuer credit rating and the B issue rating on the 480 million-euro senior unsecured notes due 2015 and the $250 million senior unsecured notes due 2017 issued by Hapag-Lloyd AG. "The outlook revision reflects Hapag-Lloyd's significantly lower profitability in the first half of th...

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