CMA CGM celebrates Q1 results and credit rating upgrade

The world’s third largest shipping company CMA CGM has released impressive first quarter results, just one week after credit rating agency Moody’s upgraded its credit rating from B2 to B1.

“Our decision to upgrade CMA CGM’s ratings reflects the company’s continued robust operating performance and resulting improvements to its financial profile,” said Marie Fischer-Sabatie, a Moody’s Senior Vice President and lead analyst for the issuer, on May 12.

The agency continued in a statement that the company’s profitability levels were among the highest in the industry with a core EBIT margin in 2014 at 5.8%. On 18 May, the company announced that its first quarter core EBIT margin was 10.1% in 2015, up from 4.7% in the first quarter of 2014.