S&P rates Rental Service B+, loans BB-, B-, notes B-

Standard & Poor's said it assigned its B+ corporate credit rating to Rental Service Corp.

At the same time, S&P said it assigned its bank loan and recovery ratings to the company's proposed $1.7 billion first-lien asset-based lending facility, noting that it is rated BB- with a recovery rating 1.

Additionally, the agency noted it assigned its B- rating to the company's proposed $1.13 billion senior secured second-lien term loan and a recovery rating of 5.

The agency added it assigned its B- rating to Rental Service's proposed $620 million senior unsecured notes due in 2014.

The outlook is stable.

According to S&P, the ratings on Rental Service reflect its highly leveraged financial profile which more than offsets its position as the second largest provider of equipment rentals.

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