NEW YORK (S&P Global Ratings) Aug. 15, 2016--S&P Global Ratings today assigned its 'BB-' issue-level rating and '1' recovery rating to Greenwich, Conn.-based XPO Logistics Inc.'s proposed term loan due 2021. The '1' recovery rating indicates our expectation of very high (90%-100%) recovery for debtholders in the event of a payment default. XPO will use the proceeds from the term loan to refinance its existing $1.6 billion term loan due 2021. We will withdraw our ratings on the $1.6 billion term loan following the close of this transaction when it is fully repaid. RECOVERY ANALYSIS Key analytical factors We have completed a review of our recovery analysis following XPO's proposed refinancing of its existing senior secured term loan B. We
