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Stock impact report

FedEx Freight will begin life as an investment-grade credit [Yahoo! Finance]

FedEx Corporation (FDX) 
Last fedex corporation earnings: 3/17 04:03 pm Check Earnings Report
US:NYSE Investor Relations: fedex.com/us/investorrelations
Company Research Source: Yahoo! Finance
S&P Global Ratings said Friday it had issued a rating of BBB- to FedEx Freight. The parent company has a rating of BBB. Both ratings are investment-grade, though BBB- is the lowest investment grade on the S&P Global Ratings scale. Moody's has a rating on FedEx (NYSE: FDX) of Baa2, which is considered equivalent to the S&P BBB rating. As of Friday, Moody's had not rated the debt of FedEx Freight. There aren't many other LTL carriers with publicly-traded debt as a point of comparison. But at Ba2 at Moody's and BB at S&P Global, XPO has a lower debt rating than FedEx Freight will carry into its spinoff. Those XPO ratings are both non-investment grade. Several other large LTL carriers do not have publicly-traded debt, such as Old Dominion Freight Lines (NASDAQ: ODFL) and ArcBest (NASDAQ: ARCB) . LTL carrier Forward Air (NASDAQ: FWRD) is carrying a non-investment grade rating of B, several notches below both XPO and FedEx Freight. FedEx Freight will begin life with a debt load dri Show less Read more
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