Contracted revenue base providing some stability to operating results Global network Established customer relationships, albeit with a fairly concentrated customer base Limited track record as an independent company Highly leveraged capital structure Majority ownership by private equity sponsor Higher-than-normal expenses related to setup as independent company to diminish in the next year The outlook on Neovia Logistics LLC is stable. The company is taking steps to improve its operating efficiency and end market diversity. Standard&Poor's Ratings Services believes this, coupled with new business and benefits from an acquisition completed in mid-2013, will result in an improvement in credit metrics over the next 12 months. We do not, however, believe this improvement will be sufficient to result in a
