Bulletin: XPO Logistics Inc. Ratings Unaffected By Proposed Acquisition Of Con-way Inc.

NEW YORK (Standard&Poor's) Sept. 9, 2015--Standard&Poor's Ratings Services said today that its ratings on Greenwich, Conn.-based XPO Logistics Inc. (B/Stable/--) are unaffected by the company's Sept. 9, 2015, announcement that it has entered into an agreement to acquire trucking and logistics services provider Con-way Inc. Based on our preliminary knowledge of the proposed acquisition, which the company will finance with cash and debt, we believe that XPO's credit metrics will remain within our expectations for the current rating. The addition of Con-way is part of XPO's aggressive growth strategy and follows the $3.5 billion acquisition of Norbert Dentressangle in the second quarter of 2015. The proposed acquisition of Con-way is subject to the customary conditions and

...NEW YORK (Standard & Poor's) Sept. 9, 2015--Standard & Poor's Ratings Services said today that its ratings on Greenwich, Conn.-based XPO Logistics Inc. (B/Stable/--) are unaffected by the company's Sept. 9, 2015, announcement that it has entered into an agreement to acquire trucking and logistics services provider Con-way Inc. Based on our preliminary knowledge of the proposed acquisition, which the company will finance with cash and debt, we believe that XPO's credit metrics will remain within our expectations for the current rating. The addition of Con-way is part of XPO's aggressive growth strategy and follows the $3.5 billion acquisition of Norbert Dentressangle in the second quarter of 2015. The proposed acquisition of Con-way is subject to the customary conditions and regulatory approvals, and XPO expects to close the acquisition by October 2015. Under Standard & Poor's policies, only a Rating Committee can determine a Credit Rating Action (including a Credit Rating change, affirmation...

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