NYSE:RXOTransportation
Has RXO’s (RXO) Costly Refi and Downgrade Quietly Tilted Its Earnings Risk Profile?
RXO, Inc. recently completed a US$400 million offering of 6.375% senior unsecured notes due 2031, planning to use the proceeds to redeem its existing 7.500% notes due 2027, cover related costs, and fund general corporate purposes.
This refinancing push came alongside weaker fourth-quarter results, a goodwill impairment, and a Moody’s downgrade to Ba1, all highlighting pressure on RXO’s earnings profile and balance sheet quality.
We’ll now examine how RXO’s weaker quarter and loss of...