A day after Moody’s kept the debt ratings of less-than-truckload (LTL) carrier YRC Worldwide mostly steady, S&P Global Ratings raised a key rating.
The rating agency increased its issuer credit rating on YRCW to CCC+ from CCC. The positive aspects it cited for the move are the restructuring of the company’s debt following a capital infusion by the U.S. Department of Treasury and that the company’s near-term debt maturities are “modest,” as S&P described them.
S&P Ratings already had a CCC+ on a...