Its stock having declined nearly 91% since the end of July, Forward Air now has been hit with two more downgrades of its debt rating.
Moody’s Ratings last week downgraded the ratings of ClueOpCo, a wholly owned subsidiary of Forward Air that was created following the so-far-disastrous acquisition of Omni Logistics last year. The Moody’s (NYSE: MCO) action took down the corporate family rating of ClueOpCo to B2 from Ba3. That is a decline of two steps in one action, when a one-step increase or...
https://www.freightwaves.com/news/moodys-fitch-downgrade-forward-air-debt-stock-decline-now-above-90