Published October 17, 2016 4:44pm EDT | Updated October 17, 2016 5:04pm EDT

Moody's Downgrades UPS's Debt One Notch To A1 On Spending

Moody's Investors Service on Monday downgraded United Parcel Service Inc. debt one notch to A1, saying the delivery and logistics company is unlikely to improve its creditworthiness amid "elevated debt level" and a previously announced increase in capital spending. Shares of UPS were flat in late trading Monday after ending the regular session down 0.4%.