Friday, September 9, 2011

LTL and Full Load Truck and Logistics Specialists Get Credit Rating Upgrade

US Freight Firm move from 'Negative' to 'Stable'
Shipping News Feature

US- Last month a lot more people became aware of the name Standard & Poors (S & P) when the credit rating agency downgraded the US Government’s debt rating by one notch to the chagrin of state officials. Now however, at least for one of the major players in the American freight market, the company will be in favour, as yesterday the freight, logistics and trucking conglomerate that forms Con-way Incorporated had their rating revised by S & P.

S & P’s analyses are carefully scrutinised by many analysts and although the big news from them this week confirmed an upgrading of Israel’s debt, our readers will mostly be more interested in the reasons for the improved revision for the Con-way group from ‘negative’ to ‘stable’. The group includes subsidiaries which provide general freight services, full and less than truckload options plus, under the Menlo brand, general logistics including storage, supply chain control and freight forwarding services.

S & P state as their reasons for the upgrade that, despite the intensely competitive nature of the fields in which the group trade, plus the cyclical and capital intensive pressures, that they anticipate a gradual strengthening of the level of trade after a severe depression plus they note improved freight carriage rates and a reduction of debt levels. The overall corporate credit rating of the Con-way Empire remains at ‘BBB’.

Douglas W. Stotlar, president and chief executive officer of Con-way Inc. will make presentations on Tuesday 13th September at the Deutsche Bank Aviation and Transportation Conference in New York City and the following day at the Morgan Keegan Industrial and Transportation Conference in Chicago and the speeches will also be available as live Internet audio webcasts on the Con-way website.