S&P revises Wan Hai Lines view to negative

S&P said it revised the outlook for Wan Hai Lines Ltd. to negative from stable.

“Substantial declines in trading volume and freight rates could materially pressure Wan Hai’s revenue in 2020. In our view, disruption to people flows and supply chains amid the Covid-19 outbreak could bring a slump in global transportation demand. The strict containment measures imposed by governments around the world could lead to significantly weaker global economic growth and end demand,” the agency said in a press release.

S&P affirmed the company’s BB+ rating.

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