S&P Global Ratings

Double whammy for Wabash: 2 key agencies cut debt rating on trailer builder

Trailer manufacturer Wabash National, which has seen its stock price drop by more than 60% in the past year, saw its debt rating downgraded by both S&P Global Ratings and Moody’s this month.

The latest move came earlier this week when S&P Global (NYSE: SPGI) cut its rating on Wabash (NYSE: WNC) to B+ from BB-. The move was foreshadowed in November when S&P Global Ratings lowered Wabash’s outlook to negative. Most downgrades come after a company is first reduced to a negative outlook, just as an...

https://www.freightwaves.com/news/double-whammy-for-wabash-2-key-agencies-cut-debt-rating-on-trailer-builder

‘A-’ Rating for The Swedish Club

‘A-’ Rating for The Swedish Club

The Swedish Club is pleased to report that S&P Global Ratings has reaffirmed its ‘A-‘ long-term insurer financial strength and issuer credit ratings for The Swedish Club.

S&P also maintained its assessment of the Club’s outlook as negative. 

Managing Director of The Swedish Club, Lars Rhodin, says: “Following such a challenging year we are encouraged to see that that the Club’s resilience has been recognised in our plan to address imbalances experienced in the P&I...

https://allaboutshipping.co.uk/2022/01/28/a-rating-for-the-swedish-club/

S&P Global Ratings improves Halifax Port Authority’s outlook

S&P Global Ratings has revised the Halifax Port Authority’s (HPA) outlook from stable to positive and affirmed HPA’s investment-grade credit rating of A+.

“We view HPA’s management and governance assessment as very strong. We consider management to be experienced and knowledgeable regarding markets and the industry. Its policies and governance have consistently allowed it to meet its financial and operational goals,” states the report.

Senior Vice President of Halifax Port Authority, Paul...

https://container-news.com/sp-global-ratings-improves-halifax-port-authoritys-outlook/

Daseke turnaround nets ‘positive outlook’ from ratings agency

Daseke affiliate E.W. Wylie

Following a significant third-quarter earnings beat, flatbed carrier Daseke (NASDAQ: DSKE) has received a “positive outlook” from S&P Global Ratings (NYSE: SPGI).

Citing recent improvement in the company’s operating performance and credit profile, the ratings agency raised its outlook on Daseke from negative to positive. “The positive outlook reflects Daseke’s better-than-expected operating performance and credit metrics in 2020 and our expectation for continued improvement in 2021,” the report...

https://s29755.pcdn.co/news/daseke-turnaround-nets-positive-outlook-from-ratings-agency

E2Open, about to go public through a SPAC, gets B rating from S&P Global

E2Open, the supply chain software provider that is going public through a merger with a special purpose acquisition company (SPAC), has been given a B rating on its new debt from S&P Global Ratings.

A B rating is not investment-grade. It is roughly halfway down the scale between the strongest non-investment grade rating of BB+ and the bottom rating. (The rating below that is D, which means a company has defaulted. The highest rating at S&P is AAA, carried by only two companies in the U.S.,...

https://s29755.pcdn.co/news/e2open-about-to-go-public-through-a-spac-gets-b-rating-from-sp-global

S&P says the YRCW situation is good enough for an increase in the company’s debt rating

A day after Moody’s kept the debt ratings of less-than-truckload (LTL) carrier YRC Worldwide mostly steady, S&P Global Ratings raised a key rating.

The rating agency increased its issuer credit rating on YRCW to CCC+ from CCC. The positive aspects it cited for the move are the restructuring of the company’s debt following a capital infusion by the U.S. Department of Treasury and that the company’s near-term debt maturities are “modest,” as S&P described them.  

S&P Ratings already had a CCC+ on a...

https://s29755.pcdn.co/news/sp-says-the-yrcw-situation-is-good-enough-for-an-increase-in-the-companys-debt-rating