2013-02-20 22:58:43 -
Swift Transportation Company (NYSE:SWFT) ("Swift"), a leader in transportation
solutions and the nation's largest truckload provider, announced today that
Moody's Investor Service ("Moody's") has upgraded the company's credit
with the corporate family rating raised to B1 from B2 and the senior secured
first lien bank credit facility raised two notches to Ba2 from B1. In their
press release, Moody's states, "The ratings upgrade reflects the substantial
progress that Swift has made in margin growth, cash flow generation, and
deleveraging during a period of stable demand in the truckload segment."
Additionally, Moody's raised the rating on Swift's second lien notes to B3 from
Caa1 and said the ratings outlook is stable.
The full text of Moody's announcement is available on their website at
Jason Bates, Vice President of Finance and Investor
Ginnie Henkels, Executive Vice President and Chief Financial Officer
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Source: Swift Transportation Corporation via Thomson Reuters ONE