New debt to pay a big dividend has led the two largest ratings agencies to reduce their rating of short-line rail operator Genesee & Wyoming.
Moody’s held its investment-grade debt rating of RXO, but its outlook was shifted to negative.
The two key ratings agencies expressed caution about the debt metrics on GXO’s acquisition of Wincanton. (Photo: GXO)
FleetPride, a privately held supplier of truck parts, held on to its debt rating from two key ratings agencies.
Private equity giant The Carlyle Group is no longer the owner of car hauler United Road as a debt restructuring has led to new equity.
Ratings agency Moody’s held J.B. Hunt’s debt rating steady, as the trucking company’s rating hasn’t changed since 2014.
TravelCenters of America has again rejected a bid by convenience store operator Arko, which revealed itself as the late bidder competing with BP.
XPO, on its way to becoming a pure-play LTL carrier, received an upgrade in its debt rating from S&P Global Ratings.
Flatbed operator Daseke saw its debt rating upgraded by S&P Global Ratings.
Odyssey Logistics, a 3PL that specializes in metals and chemicals, had its debt rating upgraded by Moody’s.
Freight brokerage firm C.H. Robinson had its debt rating affirmed by Moody’s, with the agency seeing “disciplined” finances at the 3PL.
Flatbed operator Daseke has received a mostly positive review from Moody’s, and the company’s management has responded with a bullish outlook for its trucking business.
Both reports see debt levels rising initially but with a steady move toward a more reasonable level of coverage.
2020 wins include harbor-deepening funding and Blount Island berth enhancements.
The bond credit ratings firm updates its outlook for the freight rail industry from negative to stable amid rising rail volumes.
German container carrier now expects 2020 EBITDA of between $2.8 billion and $3.04 billion.
Ratings agency mum on whether it liked what it saw at troubled LTL carrier
Demand headwinds will place “downwards pressure on revenue and earnings likely into 2021” for trailer manufacturer Wabash National. This was part of the rationale behind credit rating agency Moody’s lowering its ratings on the company.
Two logistics parks are in operation nearby and more are to come in Alabama.
One rating is increased as long review by ratings agency is wrapped up
Daseke’s ratings were confirmed at recently downgraded levels by Moody’s. The report points to the company’s restructuring as a source for a potential ratings upgrade.
Moody’s says rail volumes could slip 15% or more in 2020. Meanwhile, IANA confirms declines in international intermodal volumes in the first quarter.
The COVID-19 outbreak is jeopardizing half of all American jobs, Moody’s reports. Plus, United’s CEO says the outbreak is worse than 9/11; U.S. factories face closures; and Seattle cargo terminals shut down.
Two bond rating agencies downgrade UPS debt, urging caution in how it allocates free cash flows
Owners of ships, railcars and trucks face increased risk from environmental regulations, credit rating agency Moody’s said. The value of $265 billion in debt owed by transportation companies may be […]
Investors in search of yield have turned to private equity for sometime now. What’s new is the willingness for seemingly large, risk-averse investment funds to tap into the private equity markets.
If UPS sticks to its capex and buyback plans—which exceed projections for free cash flow—the parcel carrier may have to issue more debt.
Ocean carriers ease back capacity as import volumes slowdown, but industry still expected to be set fair for 2019.
Rating agency Moody’s Investors Service said it upgraded its ratings on about $3.2 billion debt issued by XPO Logistics, Inc., (NYSE: XPO) citing a “positive operating environment” in 2019 for transport and logistics companies, as well as XPO’s strong performance.
The credit rating agency says that well-capitalized, risk-sharing joint ventures between incumbent automakers have the best chance of successfully bringing AV products to market safely and at scale.
The debt rating agency sees some drawbacks to the process, but is otherwise strongly in support of the growing trend.
