Moody’s

Positive Outlook From Moody’s for Global Ship Lease

  • Global Ship Lease mentions that its credit outlook has been improved to B3 / Positive from B3 / Stable by Moody’s Investor Services.
  • In announcing its review, Moody’s cited the demonstrated resilience of Global Ship Lease and the container shipping industry throughout 2020.
  • It also shared its expectations of an improved leverage profile on a sustained basis, positive momentum for charter rates, and supportive supply-side fundamentals.

Improved credit outlook from Moody’s for Global Ship Lease,...

https://mfame.guru/positive-outlook-from-moodys-for-global-ship-lease/

Significant earnings jump spurs Hapag-Lloyd forecast revision

Hapag-Lloyd has raised its full-year forecast based on preliminary third-quarter figures showing a year-over-year earnings jump of €96 million ($112 million). 

Hapag-Lloyd, the world’s fifth-largest container carrier, said in an announcement Thursday that “due to the positive development in Q3,” it was raising its 2020 earnings before interest and taxes (EBIT) forecast to between €1.1 billion and €1.3 billion ($1.28 billion to $1.52 billion) and earnings before interest, taxes, depreciation and...

https://www.freightwaves.com/news/significant-earnings-jump-spurs-hapag-lloyd-forecast-revision

YRC gets review at Moody’s, but no rating tweak was at stake

Heavily debt-burdened YRC Worldwide has had its debt rating reviewed by Moody’s Investors Service, but the review wasn’t empowered to do anything about it in any event.

Still, given the less-than-truckload (LTL) carrier’s major debt load, and the fact that it received $700 million in federal government support since the last review by Moody’s, any action, or lack thereof, by a ratings agency is significant.

YRC now carries a Caa1 rating from Moody’s, which is just a few steps above the lowest...

https://s29755.pcdn.co/news/yrc-gets-review-at-moodys-but-no-rating-tweak-was-at-stake

Trailer maker Wabash faces headwinds into 2021, Moody’s says

Wabash trailer on highway

The expectation of “meaningful downwards pressure on revenue and earnings likely into 2021, amid deteriorating end market fundamentals and weak macro conditions, heightened by the coronavirus outbreak,” was the justification for lowering trailer manufacturer Wabash National’s (NYSE: WNC) credit ratings.

In the Wednesday report, Moody’s Investors Service announced it had lowered the Lafayette, Indiana-based company’s debt, probability of default and speculative grade liquidity ratings another...

https://www.freightwaves.com/news/trailer-maker-wabash-faces-headwinds-into-2021-moodys-says

‘Land is plentiful’ for APM Terminals Mobile seaport growth

APM Terminals Mobile wants more companies to see what Alabama’s Gulf Coast has to offer.

It said several major corporations — from Airbus to Amazon, BendPak to Bombardier, Honda to Hyundai — already use the Port of Mobile as a global logistics hub. 

Brian Harold, APM Terminals Mobile’s managing director, said the region has it all — “available land near the port to grow manufacturing and DCs, five Class I railroads for inland supply chains, three interstate highways and a cargo airport near the...

https://www.freightwaves.com/news/land-is-plentiful-for-apm-terminals-mobile-seaport-growth

Career Tracks: XPO appoints diversity officer

XPO Logistics has promoted LaQuenta Jacobs to the newly created position of chief diversity officer, effective Monday.

She will provide cultural leadership and strategic direction as an advocate of diversity, equity and inclusion at XPO and report directly to Chairman and CEO Brad Jacobs.

LaQuenta Jacobs has 23 years of experience leading organizational development initiatives for global public companies. She joined XPO in 2018 as the head of human resources for the company’s last-mile business...

https://www.freightwaves.com/news/career-tracks-xpo-appoints-diversity-officer

Most YRCW’s debt ratings held steady by Moody’s after Treasury action

The debt ratings of YRCW have been confirmed and in one case upgraded following the announcement that it is getting a $700 million cash infusion from the Department of Treasury.

The Moody’s action taken Wednesday occurred on the same day that YRCW disclosed its plans for restructuring some of its debt with the proceeds from the Treasury support. The Treasury Department is acquiring almost 30% of the company as the method for putting the $700 million into the troubled LTL carrier. 

The action...

https://www.freightwaves.com/news/most-yrcws-debt-ratings-held-steady-by-moodys-after-treasury-action

Daseke ratings review confirms recent downgrade

Daseke flatbed on highway

The nation’s largest flatbed carrier Daseke Inc. (NASDAQ: DSKE) had its recently lowered credit ratings confirmed by Moody’s Investors Service (Moody’s Corp. NYSE: MCO). The June 10 action by the firm confirms the company’s debt rating at B3 and changes the company’s ratings outlook, which was “under review,” to “stable.”

Daseke’s debt, default and liquidity ratings had been under review for “further downgrade” following a March 30 ratings downgrade.

According to the report, Moody’s took into...

https://s29755.pcdn.co/news/daseke-ratings-review-confirms-recent-downgrade

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