S&P ups Swift Transportation

Standard & Poor's said it raised its ratings on Swift Transportation Co., including the corporate credit rating to B+ from B. The outlook is stable.

"Swift's profitability and cash generation have improved steadily along with the general U.S. economy and the trucking industry," said S&P credit analyst Solomon Samson in a news release.

S&P said the company is using its cash from operations primarily to invest in new trucks, as well as for modest debt reduction. As a result, Swift has achieved stronger credit metrics, the agency said.

"We believe that this stronger financial profile is sustainable, based on the positive trends surrounding the company's business," Sampson said.

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