17.02.2015 09:00:00
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CMA CGM S.A. -- Moody's: Shipping company CMA CGM's creditworthiness is stronger than peer Hapag-Lloyd's
Paris, February 17, 2015 -- The credit profile of French container shipping company CMA CGM S.A. (CMA, B2 positive) is more robust than that of German competitor Hapag-Lloyd AG (HL, B2 negative) on account of its higher profitability, bigger market share and more diverse geographic presence, says Moody's Investors Service in an Issuer In-Depth report. However, HL's financial and liquidity profile has been more stable than CMA's, while Moody's expects both companies' credit metrics to reduce some of their gap.