Standard & Poor’s revised its outlook on the credit rating of Maersk Group to negative watch, due to the recent announcement of the company’s intention to review strategy and business structure. According to the credit rating agency, the the revision of the strategy might lead to a decision on the sale of one or more business units, which will adversely affect the entire business of the group. The extent of changes to the group’s financial policy that the strategic review may imply, as well as any potential offsetting factors, are unclear. Standard & Poor’s also argued its decision with the crisis in the container shipping industry, which may negatively affect the operating performance Maersk Line, as well as possible non-renewal of the Maersk Oil contract with Qatar Petroleum, which will lead to additional liquidity problems for the group.
“One of our key priorities is to boost revenues after a decade of stagnation” said the newly appointed CEO of Maersk Group, Soren Skou. “In the long term we are challenged on top-line growth. Obviously, for us it is important the we have a group that is both profitable, but also has a growth path … if you have a business that isn’t growing the top line, it’s very hard to deliver attractive returns to shareholders”, added he in an interview.
A.P. Moller–Maersk Group is a Danish business conglomerate. A.P. Moller – Maersk Group has activities in a variety of business sectors, primarily within the transportation and energy sectors. It has been the largest container ship operator and supply vessel operator in the world.