The acquisition of a majority stake in Pilot Travel Centers by Berkshire Hathaway has led to a significant increase in the company’s debt rating by S&P Global Ratings.
Pilot’s BB+ corporate rating was affirmed in mid-2021, though one debt issue was reduced at that time to a BB+ level. BB+ is not considered investment-grade debt.
But with Berkshire Hathaway now owning 80% of the company, and the Haslam family owning the rest, S&P Ratings (NYSE: SPGI) took Pilot’s rating up three notches to BBB+ in...
https://www.freightwaves.com/news/pilot-now-backed-by-berkshire-hathaway-sees-sp-debt-rating-rise