Improved Credit Outlook from Moody’s for Global Ship Lease
Global Ship Lease, Inc. (NYSE:GSL) (the “Company”), a leading independent owner of containerships, announced today that its credit outlook has been improved to B3 / Positive from B3 / Stable by Moody’s Investor Services. In announcing its review, Moody’s cited the demonstrated resilience of Global Ship Lease and the container shipping industry throughout 2020, expectations of an improved leverage profile on a sustained basis, positive momentum for charter rates, and supportive supply-side fundamentals.
George Youroukos, Executive Chairman of Global Ship Lease, commented, “As the container shipping industry continues to demonstrate unprecedented resilience, we are pleased that Moody’s has recognized not just the supportive industry backdrop, but also the promising trajectory of Global Ship Lease’s financial performance and deleveraging efforts. Our high-quality, fuel-efficient fleet of mid-sized Post-Panamax and smaller containerships puts Global Ship Lease in an excellent position to benefit from the combination of strong charterer demand and a negligible multi-year orderbook for those key vessel classes. We fully share Moody’s positive outlook for Global Ship Lease, and we remain focused on using our strengthened credit profile to work towards opportunistically refinancing our outstanding Senior Secured Notes.”
Source: Global Ship Lease