RXO has hung on to its BB+ rating from S&P Global, but the outlook on the company has been dropped down one level.
RXO, spun off from XPO (NYSE: XPO) last fall, was given a BB+ rating by S&P Global Ratings at the time the brokerage company became a separate entity. At the same time, RXO was also given a “positive” outlook by S&P, which suggested that credit and market conditions for the company were strong enough so that an increase in the rating was possible in the coming 12 months.
That move...
https://www.freightwaves.com/news/rxo-outlook-cut-to-negative-but-important-debt-rating-not-reduced