XPO Logistics Inc.'s Senior Secured Debt Rated 'BB-' (Recovery Rating: '1'); Existing Debt Ratings Affirmed - S&P Global Ratings’ Credit Research

XPO Logistics Inc.'s Senior Secured Debt Rated 'BB-' (Recovery Rating: '1'); Existing Debt Ratings Affirmed

XPO Logistics Inc.'s Senior Secured Debt Rated 'BB-' (Recovery Rating: '1'); Existing Debt Ratings Affirmed - S&P Global Ratings’ Credit Research
XPO Logistics Inc.'s Senior Secured Debt Rated 'BB-' (Recovery Rating: '1'); Existing Debt Ratings Affirmed
Published Aug 11, 2016
5 pages (1868 words) — Published Aug 11, 2016
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings today assigned its 'BB-' issue-level rating and '1' recovery rating to Greenwich, Conn.-based XPO Logistics Inc.'s incremental $400 million senior secured term loan B. The '1' recovery rating indicates our expectation for very high (90%-100%) recovery of principal for debtholders in the event of a payment default. At the same time, we assigned our 'B-' issue-level rating and '5' recovery rating to the company's proposed senior unsecured notes due 2023. The '5' recovery rating indicates our expectation for modest (10%-30%; lower half of the range) recovery of principal for debtholders in the event of a payment default. We also affirmed our 'BB-' issue-level rating on the company's $1.6 billion senior

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) Aug. 11, 2016--S&P Global Ratings today assigned its '##-' issue-level rating and '1' recovery rating to Greenwich, Conn.-based XPO Logistics Inc.'s incremental $400 million senior secured term loan B. The '1' recovery rating indicates our expectation for very high (90%-100%) recovery of principal for debtholders in the event of a payment default. At the same time, we assigned our 'B-' issue-level rating and '5' recovery rating to the company's proposed senior unsecured notes due 2023. The '5' recovery rating indicates our expectation for modest (10%-30%; lower half of the range) recovery of principal for debtholders in the event of a payment default. We also affirmed our '##-' issue-level rating on the company's $1.6 billion senior secured term loan B. The '1' recovery rating is unchanged, indicating our expectation for very high (90%-100%) recovery of principal for debtholders in the event of a payment default. In addition, we affirmed our 'B-' issue-level...

  
Report Type:

Ratings Action

Issuer
XPO Logistics, Inc.
GICS
Air Freight & Logistics (20301010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "XPO Logistics Inc.'s Senior Secured Debt Rated 'BB-' (Recovery Rating: '1'); Existing Debt Ratings Affirmed" Aug 11, 2016. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/XPO-Logistics-Inc-s-Senior-Secured-Debt-Rated-BB-Recovery-Rating-1-Existing-Debt-Ratings-Affirmed-1691773>
  
APA:
S&P Global Ratings’ Credit Research. (). XPO Logistics Inc.'s Senior Secured Debt Rated 'BB-' (Recovery Rating: '1'); Existing Debt Ratings Affirmed Aug 11, 2016. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/XPO-Logistics-Inc-s-Senior-Secured-Debt-Rated-BB-Recovery-Rating-1-Existing-Debt-Ratings-Affirmed-1691773>
  
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