Standard & Poor's (S&P) Maalot, the Israel arm of the global independent credit rating and risk evaluation group, has this week raised its rating for Israel shipping group Zim.
According to S&P, the group's rating has been bumped up to BB+ from an initial rating of B as a result of improved liquidity and a more favourable shipping environment.
In addition, S&P upgraded its financial outlook for Zim from 'stable' to 'positive', Reuters reported.
Zim announced earlier this month that revenues for the second quarter of 2010 had increased by 72 per cent compared with the year-earlier period to some US$933m (€725m).
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