Moody's downgrades 'K' Line's issuer rating to Ba3

Time:2016-05-19 Browse:145 Author:RISINGSUN
MOODY`S has downgraded Japanese shipping company "K" Line`s issuer rating from "Ba2" to "Ba3."

"Although, we have continued constructive discussions with Moody`s based on a cyclical nature of shipping industry, it was regretful that downgrade implementation has been taken," the carrier explained in a statement. 

"Based on non-necessity of continuous rating obtainment from business (operation) perspective, today, we have withdrawn issuer rating from Moody`s. 

"Nevertheless, we will continue to keep our ratings from Japan Credit Rating Agency Ltd and Rating and Investment Information Inc."