SA: FedEx straps in to ride out pandemic

April 3, 2020 LoadstarEditorial

SEEKING ALPHA reports:
FedEx (FDX -2.6%) discloses that it drew down $1.5bn from its credit facilities and still has $1.86bn untapped.
While demand in Asia has picked up a bit for the company, margins in the US will be impacted negatively by the change in mix. Overall, global B2B has taken a hit.
FDX is taking actions to manage cash flow and improve liquidity, including capex review and a consideration of alternative financing sources.
CEO ...

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