S&P: Daseke unchanged after loan revision

Standard & Poor's said the B+ rating and 4 recovery rating on Daseke Inc.'s senior secured term loan are unchanged following the company's revision of the terms of the loan.

The new proposed $200 million senior secured term loan B due 2020 is $50 million smaller than the previously proposed $250 million senior secured term loan B due 2022.

The 4 recovery rating indicates 30% to 50% expected default recovery.

The B+ corporate credit rating and stable outlook on Daseke also is unchanged.

The ratings reflect the company's participation in the highly fragmented, cyclical and capital-intensive trucking industry, S&P said.

Over the next few years, the agency said it believes that Daseke's trucking volumes will grow gradually, supported by moderate U.S. economic growth, the agency said.

The ratings also consider the company's steady earnings growth, S&P said.

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