Danaos Corporation Announces Moody's Outlook Change to Positive and Upgrade of Senior Unsecured Notes to Ba1
Danaos Corporation Announces Moody's Outlook Change to Positive and Upgrade of Senior Unsecured Notes to Ba1
PR Newswire
ATHENS, Greece, Oct. 26, 2026
ATHENS, Greece, Oct. 26, 2026 /PRNewswire/ -- Danaos Corporation ("Danaos" or the "Company") (NYSE: DAC), one of the world's largest independent owners of containerships, today announced that Moody's Ratings ("Moody's") has changed the outlook on the Company's Ba1 Corporate Family Rating to positive from stable. Moody's has also upgraded the rating on the Company's senior unsecured notes to Ba1 from Ba2.
According to Moody's, the outlook change reflects Danaos' increased revenue visibility, substantial cash balances and continued disciplined financial management, which together support strong credit metrics and the Company's capacity to withstand weaker charter market conditions.
Moody's also cited Danaos' established position as one of the world's largest containership charter owners, its long-term, fixed-rate charter portfolio, its track record of positive free cash flow, and its practice of prioritizing debt reduction ahead of shareholder distributions. As of June 30, 2026, Danaos had contracted revenue of approximately $4.6 billion with an average remaining charter duration of 4.7 years, and approximately $1.0 billion of cash.
Evangelos Chatzis, Chief Financial Officer of Danaos, commented: "We welcome Moody's decision, which recognizes the strength of our balance sheet, the visibility provided by our long-term charter backlog and the discipline with which we have managed our capital structure."
About Danaos Corporation
Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 78 containerships, aggregating 502,265 TEUs, together with 28 containerships under construction, aggregating 177,776 TEUs, ranks Danaos among the world's largest containership charter owners based on total pro-forma capacity of 680,041 TEUs. Danaos has also invested in the dry bulk sector through the acquisition of 11 Capesize dry bulk vessels and the order of four Newcastlemax dry bulk newbuildings, which, on a fully delivered basis, will aggregate approximately 2,787,286 dwt of capacity. Our containership fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is built on efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC."
SOURCE Danaos Corporation
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