S&P assigns B+ to Daseke loan

Standard & Poor’s said it assigned its B+ corporate credit rating on Daseke Inc. The outlook is stable.

At the same time, S&P assigned a B+ issue-level rating and 4 recovery rating on the company’s $250 million senior term loan B due 2022. The 4 recovery rating indicates an expectation for average (30%-50%; lower end of the range) recovery in the event of a payment default.

“Our ratings on Daseke reflect the company’s participation in the highly fragmented, cyclical and capital-intensive trucking industry. Daseke provides open-deck, specialty trucking services in the U.S., Canada, and Mexico,” said S&P credit analyst Michael Durand in a news release.

“Our ratings also reflect our assessment of the company’s steady earnings growth and our belief that management’s current financial policies for disciplined, accretive acquisitions will result in credit measures that are commensurate with our rating,” Durand said in the news release.

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