Stonepeak Taurus Lower Holdings, better known by its business name of Trac Intermodal, now has a negative outlook from a key ratings agency even as the chassis provider’s corporate debt rating was affirmed.
Moody’s on Monday reduced the outlook on Trac to negative, but its B2 corporate family rating was held steady. The rating had been Stable.
A B2 rating is five notches below the cutoff between investment-grade and non-investment-grade debt. Moody’s describes a B2 rating as “subject to high...
TRAC Intermodal has appointed Daniel Walsh, formerly head of the last-mile business at XPO Logistics, as its new president and CEO.
Walsh replaces Jennifer Polli, who will leave the Princeton, New Jersey-based container chassis provider on Sept. 1.
Polli joined TRAC in 2012 and rose through the ranks to become president and CEO in 2018. The company credited her for leading the company through “significant transformation,” including its...
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