Moody's Investor Service has maintained its Ba2 Corporate Family Rating, with a stable outlook, S&P Global Ratings ("S&P") has affirmed its long-term issuer credit rating of BB+, with a stable outlook, and the Kroll Bond Rating Agency ("KBRA") has kept the Company's corporate rating at BB+, with a stable outlook, while also affirming the BBB/stable investment grade rating and outlook for GSL's 5.69% Senior Secured Notes due 2027. In affirming GSL's credit ratings and stable outlook, the agencies highlighted the Company's track record of using its strong cash flow to deleverage, its focus on maintaining a disciplined, low leverage strategy, and revenue stability based on attractive multi-year time charter agreements.