Forward Air’s stock has been pummeled since it announced its acquisition of Omni Logistics last month, but a pair of reports from two debt ratings agencies lean far more positive on the future of the transaction.
Forward Air is taking on a significant amount of debt to complete the deal. That debt has drawn ratings from two of the three key agencies, S&P Global Ratings (NYSE: SPGI) and Fitch Ratings. Forward previously had not had publicly traded or rated debt.
The ratings for both agencies on...