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Prospect News home > News index > List of issuers I > Headlines for Interline Brands, Inc. > News item |
S&P gives Interline loan BB
Standard & Poor's said it assigned its BB bank loan rating and 1 recovery rating to Interline Brands Inc.'s $150 million term loan due 2010, which replaces Interline's previous $100 million term loan due 2009.
At the same time, the agency said it raised its bank loan rating to BB from BB- and assigned its 1 recovery rating to Interline's $100 million revolving credit facility due 2008.
S&P said it also affirmed its BB- corporate credit rating and B senior subordinated debt rating on Interline.
The outlook is stable.
Interline's ratings reflect its aggressive capital structure and modest financial scope in a competitive industry, partially offset by good customer, product and geographic diversity, a relatively favorable industry outlook and competitive operating margins, S&P noted.
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