Reported 5 months ago
C.H. Robinson's credit rating has been downgraded by S&P Global for the first time in at least six years, moving from BBB+ to BBB, maintaining an investment-grade status. This downgrade follows a negative outlook shift last year and reflects concerns about the company's ability to repay debt. Despite recent operational improvements, S&P Global cites financial metrics and debt levels as reasons for the downgrade, noting that the freight market's recovery may not be fast enough to restore metrics to maintain the previous rating. C.H. Robinson has ceased share repurchases and tapped into a credit line in response to the downgrade.
Source: YAHOO