Moody's ups Mitsui O.S.K. Lines to A3

Moody's Investors Service said it upgraded to A3 from Baa1 the senior unsecured and issuer ratings of Mitsui O.S.K. Lines, Ltd. and the senior unsecured debt ratings of its supported subsidiaries, Mitsui O.S.K. Finance Plc and Euromol BV. The agency said it also upgraded to A1 from A2 the long-term debt rating of the company's series 9 economic defeased bonds.

The outlook for the ratings is stable.

These rating reflect Moody's view that Mitsui's improved and stabilized profitability will lead to further strengthening of its financial profile over the medium term, despite its intensive capital expenditure plans for fleet expansion.

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