Moody's rates Swift loan B1

Moody's Investors Service said it assigned a B1 (LGD 3, 32%) rating to Swift Transportation Co., LLC's senior secured credit facility, consisting of a $200 million term loan B-1 due 2016, a $674 million term loan B-2 due 2017 and a $400 million revolving credit facility due 2015.

The agency also said it affirmed Swift's corporate family rating of B2 with a positive outlook and speculative-grade liquidity rating of SGL-3.

The ratings reflect the company's strengthening financial performance, which can be attributed to improvements in its trucking operations as well as to a continuing trend in improving industry freight volumes and yields, Moody's said.

The ratings also consider the company's commitment to reducing debt while maintaining fleet investments, the agency said.

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