S&P rates U.S. Concrete notes

Standard & Poor's said it assigned its B+, positive, corporate credit rating to U.S. Concrete Inc. and a B- rating to a planned offering of $150 million senior subordinated notes due 2014.

"Proceeds will be used to redeem $95 million of existing notes and repay borrowings of $60 million under a credit facility which is being replaced," said S&P credit analyst Wesley E. Chinn.

S&P said U.S. Concrete's credit quality reflects a highly competitive industry, cyclicality of the company's end markets, a moderate-sized revenue base, periodic acquisition activity, and its aggressive debt leverage, partially offset by a meaningful position in the domestic ready-mix market.

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