Moody's downgrades 'K' Line's issuer rating to Ba3
Time：2016-05-19
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"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"Based on non-necessity of continuous rating obtainment from business (operation) perspective, today, we have withdrawn issuer rating from Moody`s.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."