Pilot Flying J CEO Jimmy Haslam during a press conference Monday in the boardroom at their Knoxville headquarters. Photo by Michael Patrick/News Sentinel
KNOXVILLE, TN (News Sentinel) -- Pilot Flying J is scrambling to contain the business fallout from a federal investigation, but the scandal might also impact its credit rating.
One day after federal agents raided the company's facilities, Moody's Investors Service last week announced it had put its ratings for Pilot Travel Centers LLC on review for a downgrade.
The ratings agency said that decision was prompted by the announcement of the investigation.
"The review will focus on the details of the investigations as they become available," the April 16 report said, "and any potential impact the investigation or its findings could have on the company's overall operations, supply or its liquidity, including maintaining orderly access to its bank revolver."