Moody’s lifts Danaos outlook to positive

Moody’s Ratings has changed the outlook on Danaos Corporation’s Ba1 Corporate Family Rating to positive from stable.

The rating agency also upgraded the containership owner’s senior unsecured notes to Ba1 from Ba2.

According to Danaos, Moody’s based its decision on the company’s increased revenue visibility, substantial cash position and disciplined financial management.

Moody’s said these factors support strong credit metrics. They also improve Danaos’ ability to withstand weaker conditions in the containership charter market.

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