RXO has carried an investment-grade rating from Moody’s Investors Service since the fall of 2022, when the 3PL was spun off from XPO (NYSE: XPO).
But it is now under threat as Moody’s has changed its outlook on RXO (NYSE: RXO) to negative from stable.
At the same time, Moody’s affirmed that initial investment-grade rating of Baa3 given in 2022. The Moody’s rating is particularly notable — and valuable — to RXO because the company’s rating at competing ratings agency S&P Global (NYSE: SPGI) is...