Swift Transportation Company (NYSE:SWFT) ("Swift"), a leader in transportation solutions and the nation's largest truckload provider, announced today that Moody's Investor Service ("Moody's") has upgraded the company's credit ratings, with the corporate family rating raised to B1 from B2 and the senior secured first lien bank credit facility raised two notches to Ba2 from B1. In their press release, Moody's states, "The ratings upgrade reflects the substantial progress that Swift has made in margin growth, cash flow generation, and deleveraging during a period of stable demand in the truckload segment." Additionally, Moody's raised the rating on Swift's second lien notes to B3 from Caa1 and said the ratings outlook is stable.
The full text of Moody's announcement is available on their website at www.moodys.com.
Swift Transportation CompanyJason Bates, Vice President of Finance and Investor Relations OfficerorGinnie Henkels, Executive Vice President and Chief Financial OfficerOffice: 602-269-9700