In its first public debt rating since its formation, Brad Jacobs’ building supply rollup QXO has earned equivalent grades from Moody’s and S&P Global Ratings, but neither is in investment-grade territory.
In the past several days, S&P Global gave QXO a BB- rating. Moody’s assigned a Ba3 rating to the company. The two grades are considered equivalent on their respective scales, three notches below the dividing line for investment-grade and non-investment-grade debt.
The ratings came as QXO (NYSE:...