HMM Receives 'A+' Credit Rating from NICE Investors Service... Upgraded Two Notches in Two Years

"Outstanding Business Competitiveness and Financial Stability"

HMM announced on May 20 that it has received a corporate credit rating of 'A+ (Stable)' from NICE Investors Service, one of Korea's top three credit rating agencies.

11,000 TEU-class container ship HMM Blessing. Photo by HMM

This represents a two-notch upgrade from the previous 'A-' rating, and comes two years after the last evaluation in May 2023. HMM explained that it was recognized for its strong business competitiveness and financial stability in the corporate credit assessment based on last year's audited financial statements.

Specifically, NICE Investors Service cited several positive factors for HMM's business, including enhanced vessel capacity competitiveness through cooperation on European routes with Premier Alliance and MSC, as well as improved cost competitiveness through the introduction of new vessels. In addition, the agency projected that HMM would be able to effectively respond to fluctuations in the container shipping market, thanks to its strong cash generation from operations and abundant liquid assets, which underpin its excellent financial stability.