Freightmaster1
TB Legend
- Credits
- 576
https://www.freightwaves.com/news/yrc-gets-review-at-moodys-but-no-rating-tweak-was-at-stake
Moody’s Caa1 rating was already affirmed soon after the company received the $700 million loan from the Treasury Department. (Moody’s rival S&P Global Ratings gave it an upward boost). While the amount seemed enormous, it was not enough to move the needle on YRC’s debt rating. The affirmation of Caa1 “balances the additional liquidity … and related amendments to the company’s existing revolving credit facility and term loan, and the need to increase its earnings and cash flows sufficiently to service the increase in the company’s debt.”
Moody’s Caa1 rating was already affirmed soon after the company received the $700 million loan from the Treasury Department. (Moody’s rival S&P Global Ratings gave it an upward boost). While the amount seemed enormous, it was not enough to move the needle on YRC’s debt rating. The affirmation of Caa1 “balances the additional liquidity … and related amendments to the company’s existing revolving credit facility and term loan, and the need to increase its earnings and cash flows sufficiently to service the increase in the company’s debt.”