Swift has been in discussions with the FMCSA about a recently conducted audit and anticipates a positive outcome.
There are three safety ratings applied to motor carriers: satisfactory, which Swift has historically maintained; conditional, which means that there are deficiencies requiring correction, but not so significant to warrant loss of carrier status; and unsatisfactory, which is the result of acute deficiencies and would lead to loss of carrier status.
Even if a carrier temporarily drops to conditional status, it does not lose its carrier license, though under contractual provisions standard in the industry, some customers may be able to reduce or terminate their relationship with the carrier. Swift believes, based on internal data, external data, and consultation with its regulatory counsel, that it will maintain its satisfactory rating for the foreseeable future and that, even if it did not, any loss of status and revenue would be temporary.
