Global credit rating agency Moody's has upgraded Canadian seafood giant High Liner's credit rating, forecasting that the company will post significant growth in 2023 despite expectations of tough trading conditions.

"While inflation and tightening consumer spending could affect consumer demand for High Liner's products, Moody's believes the company's brand strength, good supply chain management and product innovation will support top line growth and stable EBITA margins of around 8 percent through 2023," Moody's Vice President and lead analyst Dion Bate said.