Moody’s downgrades Daseke

Moody’s Investors Service said it downgraded the ratings of Daseke Cos., Inc., including the corporate family rating to B3 from B2, the probability of default rating to B3-PD from B2-PD and the senior secured rating to B3 from B2. The speculative grade liquidity rating was maintained at SGL-3. All ratings are under review for further downgrade.

Moody’s cited the coronavirus pandemic, the steep decline in oil and gas prices and a weakening global economy combining to create a shock across markets, sectors and regions.

As a transportation company, Daseke is particularly sensitive to cyclical industrial production and construction spending, Moody’s said.

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