MOODY'S Investors Service has downgraded the credit rating for AP Moller-Maersk, saying it expects the world's largest container shipping company "will face increased market and execution risks and, as a result, operate at a higher leverage". Thus, Moody's dropped the issuer rating and senior unsecured rating of the company to Baa3 from Baa2. Moody's also downgraded Maersk's medium-term note programme rating to (P)Baa3 from (P)Baa2, while saying outlook for all ratings is stable. Those are still investment grade ratings, though just a step above what Moody's considers non-investment grade or "not prime" debt, reported American Shipper.