Moody's affirms Swift; outlook up to positive

Moody's Investors Service said it affirmed the ratings of Swift Transportation Co., LLC, including the corporate family rating of Caa1, and has raised Swift's outlook to positive from negative.

Swift's outlook was changed to positive in recognition of the company's strengthening financial performance, which Moody's said it attributes to improvements in Swifts trucking operations as well as to an improving trend in industry freight volumes and yields that are now taking traction.

Throughout the recent trucking recession, Swift remained profitable at the operating income level, but had overall weak financial metrics due to its extremely high debt load following the 2007 transaction taking the company private, the agency noted.

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