Moody's downgrades UPS debt 1 notch

Discussion in 'The Latest UPS Headlines' started by cheryl, Mar 5, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    Moody's downgrades UPS debt 1 notch - Forbes

    Moody's Investors Service lowered its long-term debt rating on United Parcel Service Inc. by one notch on Wednesday, citing the weak freight and parcel volumes due to the recession.

    The ratings agency said the downgrade was based on a view that the global economy will remain very weak through 2009. Moody's said it was likely that softer demand would reduce UPS' profit and cash flow, making it "unlikely" UPS could return to "Aa2" rating before 2011.