Moody’s revises Danaos outlook to positive from stable

Moody’s has revised the outlook on Danaos Corp’s Corporate Family Rating (CFR) to positive from stable.

The company’s rating remains at Ba1, while Moody’s has upgraded its rating on Danaos’ senior unsecured notes to Ba1 from Ba2. According to Moody’s, the outlook revision reflects the improved predictability of Danaos’ future revenue, its substantial cash holdings and its continued prudent financial management.

These factors underpin the company’s strong credit metrics and enhance its ability to withstand less favourable conditions in the charter market.

Moody’s also highlighted Danaos’ established position as one of the largest containership owners operating in the charter market, its portfolio of long-term charters at fixed rates, its track record of generating positive free cash flow and its policy of prioritising debt reduction. As of 30 June 2026, Danaos had approximately $4.6 billion in contracted revenue, with an average remaining charter duration of 4.7 years, as well as cash holdings of around $1 billion.

Evangelos Hatzis, Danaos’ chief financial officer, said: “We welcome Moody’s decision, which recognises the strength of our balance sheet, the predictability of revenue secured by our long-term charter portfolio, and the discipline with which we have managed our capital structure.”