Research Update: QXO Inc. Assigned 'BB-' Issuer Credit Rating, Stable Outlook; Debt Rated - S&P Global Ratings’ Credit Research

Research Update: QXO Inc. Assigned 'BB-' Issuer Credit Rating, Stable Outlook; Debt Rated

Research Update: QXO Inc. Assigned 'BB-' Issuer Credit Rating, Stable Outlook; Debt Rated - S&P Global Ratings’ Credit Research
Research Update: QXO Inc. Assigned 'BB-' Issuer Credit Rating, Stable Outlook; Debt Rated
Published Apr 21, 2025
8 pages (3042 words) — Published Apr 21, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Connecticut-based roofing distributor QXO Inc. is seeking to fund its acquisition of Beacon Roofing Supply by obtaining a $500 million term loan A due 2031, a $2 billion term loan B due 2032, and a $2 billion senior secured note due 2032. It also plans to refinance all of Beacon?s existing debt. Pro forma the transaction, we expect 2025 S&P Global Ratings-adjusted debt to EBITDA to be 5.3x. S&P Global Ratings assigned its ?BB-? issuer credit rating to QXO Inc. At the same time, we assigned a ?BB-? issue-level rating and ?3? recovery rating to the proposed term loan B and senior secured note. Our stable outlook reflects our forecast for S&P Global Ratings-adjusted leverage to be 4x-5x through most

  
Brief Excerpt:

...Connecticut-based roofing distributor QXO Inc. is seeking to fund its acquisition of Beacon Roofing Supply by obtaining a $500 million term loan A due 2031, a $2 billion term loan B due 2032, and a $2 billion senior secured note due 2032. It also plans to refinance all of Beacon's existing debt....

  
Report Type:

Research Update

Ticker
BECN
Issuer
Beacon Roofing Supply Inc.
GICS
Trading Companies & Distributors (20107010)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: QXO Inc. Assigned 'BB-' Issuer Credit Rating, Stable Outlook; Debt Rated" Apr 21, 2025. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-QXO-Inc-Assigned-BB-Issuer-Credit-Rating-Stable-Outlook-Debt-Rated-3356172>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: QXO Inc. Assigned 'BB-' Issuer Credit Rating, Stable Outlook; Debt Rated Apr 21, 2025. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-QXO-Inc-Assigned-BB-Issuer-Credit-Rating-Stable-Outlook-Debt-Rated-3356172>
  
US$ 225.00
$  £  €
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