NEW YORK (S&P Global Ratings) March 29, 2022--S&P Global Ratings today said that XPO Logistics Inc.'s (BB/Stable/--) plan to repay $630 million of its 2025 unsecured notes will support the company's credit quality. However, the transaction does not immediately affect ratings, including our 'BB' issuer credit rating and 'B+' issue-level rating on the notes. On March 24, 2022, XPO closed the sale of its North American intermodal business for approximately $710 million. This transaction follows XPO's previous announcement that it intends to spin off its North American brokered transportation segment and divest its European operations. We will continue to monitor how the company's divestitures progress and their potential effects on the company's competitive position and industry risk before reassessing our
