Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Road Infrastructure Investment, LLC > News item |
S&P cuts Road Infrastructure
Standard & Poor’s said it lowered its corporate credit rating on Road Infrastructure Investment LLC to B- from B. The outlook is stable.
At the same time, S&P lowered the issue-level rating by one notch to B- from B on Road Infrastructure’s $465 million first-lien facilities. S&P also lowered the issue-level rating by one notch to CCC from CCC+ on the $170 million second-lien term loan.
The recovery rating on the first-lien facilities remains at 3, indicating an expectation of meaningful recovery (50% to 70%) in the event of a payment default. The recovery rating on the second-lien term loan remains at 6, indicating an expectation of negligible (0% to 10%) recovery in the event of payment default.
“The downgrade reflects challenging industry conditions in pavement markings,” said S&P credit analyst Pranay Sonalkar in a news release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.