S&P gives A+ to UPS notes

S&P said it assigned its A+ issue-level rating to United Parcel Service Inc.'s Canadian dollar senior unsecured notes due 2024.

“The corporate credit rating on UPS reflects our assessment of the company's dominant position in domestic ground parcel delivery, its substantial position in domestic air express, its well-established and growing international network, and its strong and consistent profitability,” S&P said in a news release.

“The intensely competitive, somewhat cyclical, and highly capital-intensive nature of the small parcel and air express delivery businesses partly offset these strengths.”

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