The long-term debt ratings of Ryder have been reduced by Moody’s Investors Service, and the low resale value of trucks is cited as one of the key reasons for the move.
“A multi-year, negative trend in prices for used vehicles necessitated Ryder to lower residual values, which causes a considerable increase in depreciation expenses,” Moody’s said in its report on the truck leasing company. Keeping an accurate estimate on the value of its fleet is “critical to ensure adequate returns through...
https://www.freightwaves.com/news/ryders-debt-rating-slashed-by-moodys-2