This report does not constitute a rating action. TORONTO (S&P Global Ratings) Nov.4, 2026--S&P Global Ratings today said that Imperative Worldwide LLC ’s (B-/Stable/--) expected 2026 credit metrics remain consistent with our earlier forecasts, which considers approximately flat earnings despite a weakening in the first half. We believe easier comparisons, market-share gains in its domestic mission-critical segment, and sustained volume growth in its customs brokerage (CHB) service will grow revenue 3%-4% (pro forma for the Masterpiece divestiture) and expand earnings in the second half of 2026. We forecast 2026 pro forma S&P Global Ratings-adjusted EBITDA at approximately $70 million--only slightly lower than 2025’s $71 million). For 2027, we expect CHB to drive the bulk of mid- to high-single-digit percent revenue
