Logistics company XPO Logistics Inc. recently received $700 million in equity to help fund its aggressive growth strategy. The company has said that it will use the additional funds to pursue acquisitions, and it has increased its already very aggressive growth targets. While the addition of equity is a positive, the company's growth through acquisition strategy and aggressive financial policy make it unlikely that credit metrics will improve enough to warrant an upgrade over the coming year. We are affirming our 'B' corporate credit rating on the company. The stable outlook reflects our expectation that the improvement in credit metrics following the equity infusion will likely be temporary because we believe the company will continue to pursue debt-financed acquisitions to
