The Japan Credit Rating Agency Ltd. has upgraded the rating of Mitsui O.S.K. Lines' long-term preferred debt from A+ (positive) to AA- (stable).
JCR cited MOL's accumulation of mid- and long-term contracts mainly for iron ore carriers as one of the main reasons for the upgrade. The ratings firm also said MOL is benefiting from the strong dry bulker market while its ability to generate cash flow has improved at the same time as it continues make large fleet expansion investments. |
