S&P rates C.H. Robinson notes BBB+

S&P said it assigned its BBB+ issue-level rating to C.H. Robinson Worldwide Inc.'s proposed senior unsecured notes.

The company plans to use the proceeds to repay the outstanding balance on its revolving credit facility and for general corporate purposes.

“Our BBB+ corporate credit rating on C.H. Robinson reflects the company's strong position in third-party contract logistics, especially truck brokerage. We believe the company will continue to benefit from higher shipping volumes in its core North American market. Our rating also incorporates the cyclicality of the trucking industry and the current driver shortage,” S&P said in a news release.

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