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The company\u2019s rating remains at Ba1, while Moody\u2019s has upgraded its rating on Danaos\u2019 senior unsecured notes to Ba1 from Ba2. According to Moody\u2019s, the outlook revision reflects the improved predictability of Danaos\u2019 future revenue, its substantial cash holdings and its continued prudent financial management.<\/p>\n
These factors underpin the company\u2019s strong credit metrics and enhance its ability to withstand less favourable conditions in the charter market.<\/p>\n
Moody\u2019s also highlighted Danaos\u2019 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.<\/p>\n
Evangelos Hatzis, Danaos\u2019 chief financial officer, said: \u201cWe welcome Moody\u2019s 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.\u201d<\/p>\n
Danaos Corporation, whose interests are controlled by Dr Ioannis Coustas, announced a total cash distribution of $6 per share to…<\/p>\n<\/div>\n