United Parcel Service, Inc. -- Moody's: UPS shift to defined contribution healthcare plan for Teamsters is credit positive

New York, April 29, 2014 -- Moody's Investors Service said terms of the new contract that the International Brotherhood of Teamsters (IBT) recently approved provide credit positive benefits for United Parcel Service (Aa3, stable). The company announced on 24 April that the previously agreed new Master Agreement with the IBT had been ratified by its membership. Certainty of labor and healthcare costs, flexibility for UPS of the defined work rules through the contract's expiry on 31 July 2018 and changes to health care plans for active IBT employees and future retirees are favorable benefits for the company's operating expense structure. For further information, please see www.moodys.com.

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