Neovia Logistics, which after a recent restructuring had its debt rating cut to the lowest level on the S&P scale, now enters its new financial structure with a much higher grade.
S&P Global Ratings last week, after meeting with the 3PL’s management team, gave Neovia a rating of CCC+. That rating is the highest that S&P said in November that the restructured company would receive.
While CCC+ is still substantially below the cutoff line for investment grade and non-investment grade, i.e., “junk”...