...March 9, 2022 NEW YORK (S&P Global Ratings) March 9, 2022--S&P Global Ratings today said that XPO Logistics Inc.'s (##/Stable/--) announced spin-off of its North American transportation business and divestiture of its other non-less-than-truckload (LTL) operations do not have an immediate effect on our ratings on the company. The announcement follows XPO's spin-off of its contract logistics segment, GXO Logistics Inc., in 2021. Following the transaction, we expect the company will solely comprise its North American LTL business, which accounted for about 73% of its EBITDA on an XPO-adjusted basis. The company has not publicly released information regarding the financial terms of the transactions, including the expected cash proceeds or its intended use for the proceeds. Furthermore, XPO has not determined whether it will divest its European business through a sale or public listing. We will continue to monitor how the divestitures progress and expect the transactions to close by the end...
