S&P Lowers UPS Ratings on Debt Burden

Discussion in 'The Latest UPS Headlines' started by cheryl, Jan 10, 2008.

  1. cheryl

    cheryl I started this. Staff Member

    S&P Lowers UPS Ratings on Debt Burden - Yahoo

    S&P analyst Lisa Jenkins lowered the ratings after UPS said Wednesday it will take on more debt. Jenkins said UPS will incur this debt to cover major share repurchases and followed the $6.1 billion cost of withdrawing from the Central States multi-employer pension plan.

    She said UPS is increasing its share repurchase program to $10 billion from the previously authorized $2 billion. The company expects to complete the repurchases over the next 24 months.