Moody’s, Fitch downgrade Forward Air debt; stock decline now above 90%

Its stock having declined nearly 91% since the end of July, Forward Air now has been hit with two more downgrades of its debt rating. Moody’s Ratings last week downgraded the ratings of ClueOpCo, a wholly owned subsidiary of Forward Air that was created following the so-far-disastrous acquisition of Omni Logistics last year. The Moody’s…