CWT Parent’s Debt Rating Falls Amid Uncertainty, Demand Crunch

Moody's Investors Service last week issued a detailed update of its March 12 downgrade on the debt rating for Carlson Travel Inc., owner of CWT. Covid-19's impact on business travel demand, economic uncertainty and weak cash flows is aggravating the pre-existing "high" ratio of debt to earnings and a downward trend on client fees, Moody's wrote.

"However, the company benefits from significant scale and [a] leading position as a global provider of corporate travel services to mostly large to medium-sized corporate clients and government agencies; a diversified, loyal customer based with . . .

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Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them with Business Travel News. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.
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