NEW YORK (S&P Global Ratings) May 21, 2020--S&P Global Ratings today said that its ratings on XPO Logistics Inc. (BB/Stable/--) are not affected by the company's issuance of a $300 million add-on to its $850 million senior unsecured notes due 2025 issued April 23, 2020. The company will use the proceeds from this add-on to supplement its liquidity amid the coronavirus pandemic. The additional debt will have a minimal effect on our adjusted credit metrics because we net XPO's cash balances against its debt. In addition, we assume the company will use the proceeds from these notes to refinance existing debt pursuant to market conditions. We continue to monitor the impact of COVID-19 on the company's performance. We believe the
