A potential merger of Hapag-Lloyd with United Arab Shipping Co (UASC) may trigger a weakening of the German company’s financial risk profile, Standard & Poor’s (S&P) says.
The ratings agency has placed Hapag-Lloyd on CreditWatch with negative implications to reflect its view of uncertainty over the new joint venture, which is currently being negotiated.
S&P explained that the German owner’s credit ratios will come under pressure given the difficult conditions in container shipping.
But
