Niche provider of third-party logistics. Moderate geographic diversity. Largely asset-light model provides flexibility during industry downturns. Stable credit metrics through 2019, with debt-to-EBITDA in the mid- to low-5x area, and funds from operations (FFO) to debt around 12%. Minimal near-term debt maturities. Low capital spending requirements. The stable outlook on Odyssey Logistics and Technology Corporation reflects our expectation that it will benefit from strong demand for freight transportation and achieve modest organic growth through 2019. We believe that the company's credit metrics will improve slightly over this period, with debt to EBITDA declining to the mid-5x area in 2018 and the low-5x area in 2019, from the 10x-12x area in 2017, as expenses related to The Jordan Company's acquisition of
