Moody's lifts Daseke

Moody's Investors Service said it upgraded Daseke Cos., Inc.’s ratings, including the corporate family rating to B1 from B2 and senior secured bank credit facility rating to B1 from B2. The speculative grade liquidity rating was changed to SGL-2, from SGL-3.

“The upgrade of the ratings reflects Moody's expectation that operational and cost measures implemented since the second half of 2019 and healthy market conditions will continue to drive strong operating results,” the agency said in a press release.

Moody’s said it forecasts Daseke’s debt/EBITDA to be about 3x at year end 2022 and about 2.8x at year end 2023, inclusive of about $100 million in debt-funded acquisitions the agency has modeled.

The outlook remains stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.