S&P cuts United Parcel Service Inc corporate credit rating

[cheryl]

S&P cuts United Parcel Service Inc corporate credit rating - Reuters

The downgrade reflects our assessment of UPS'credit profile, including the impact of increased multiemployer pension plan (MEPP) exposure, current financial policies, and the likely acquisition of TNT Express N.V. (BBB+/Watch Pos/A-2). Even if the TNT transaction is not completed, we believe UPS' current and projected credit metrics no longer support the previous ratings.

We characterize the company's business risk profile as "excellent" and its financial risk profile as "intermediate".

 

[packageguy]

S&P are these the same guys who said that Merrill Lynch, and all those wall street companys that went under. I BELEIVE THEY SAID NOTHING THAT THEY WERE GOING DOWN. Sorry but I don't put much trust in S&P.......