The affirmation is driven by DNV’s leading position in maritime classification and services, coupled with robust cash generation and very strong financial metrics. Its dependence on the largest segments and its profitability remain constraints.

A globally leading position in maritime classification and services, coupled with robust cash generation and low leverage supports the rating. Profitability pressures and dependence on the largest service lines are constraints.

The affirmation reflects DNV Group’s solid cash generation and leading global position in maritime classification and services, paired with continued very strong credit metrics.

The rating is supported by DNV’s leading global position in largely non-discretionary maritime services and classification, which increases visibility of revenues, as well as its conservative financial policy and ownership structure.