Moody’s rates J.B. Hunt notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to the new senior unsecured notes due 2022 that J.B. Hunt Transport Services, Inc. plans to issue.

The outlook is stable.

Net proceeds will be used to repay $250 million of principal amount of the 3.375% senior unsecured notes that mature on Sept. 15, 2015, up to $97 million of amounts outstanding under the revolving credit agreement, as well as for general corporate purposes.

Moody’s said the Baa1 senior unsecured rating takes into account J.B. Hunt’s position as one of the largest surface transportation and logistics companies in North America. Its market-leading intermodal franchise benefits from arrangements with most major North American rail carriers and is well positioned to benefit from continuing growth in the intermodal freight market, the agency said.

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