S&P: No change to Osmose

Standard & Poor's said Osmose Holdings Inc.'s proposed increases in its credit facilities do not affect its preliminary B+ issue rating and 3 recovery rating on the term loan or preliminary B+ corporate credit rating on Omose's parent.

According to S&P, the company has proposed to increase its term loan by $15 million, to $255 million, and its revolving credit facility by $20 million, to $45 million.

S&P said it expects Osmose Holdings Inc. to generate positive free cash flow, with credit metrics consistent with an aggressive financial risk profile, such as debt to EBTDA less than 4x and funds from operations to total debt in the mid-teens percent area, pro forma for the transaction.

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