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S&P changes CEVA Logistics view to stable
S&P said it changed the outlook for CEVA Logistics AG to stable from positive.
A turnaround at CEVA, which is owned by CMA CGM, will probably take longer than the agency had estimated, S&P said.
“The stable outlook reflects that on CMA CGM and our view that the group (CMA CGM and CEVA combined) will demonstrate a gradual and steady improvement of its financial profile in the next 12 months and continued proactive treasury management.” said S&P in a news release.
The agency also affirmed its B+ ratings on the company and its debt.
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