The $3.6 billion sale of the sourcing giant’s logistics unit to Maersk, which closed at the end of Aug., led both S&P Global and Moody’s to downgrade Li & Fung due to the loss of the source of more than half of last years EBITDA. With the sale, Maersk added 223 warehouses to its portfolio, and about 10,000 LF Logistics employees worldwide. S&P said that it expects Li & Fung to use a significant portion of ... Log in to view full article.