S&P affirms Total Safety

Standard & Poor's said it affirmed its bank loan and recovery ratings on the $100 million senior secured credit facilities of Total Safety U.S. Inc. (B-/stable), after the company proposed $10 million in additional loans.

The first-lien facilities, which now consist of an $85 million term loan and a $15 million revolving credit facility, are rated B-, same as the corporate credit rating on the company, with a recovery rating of 3, the agency said.

According to S&P, the rating on the company's $40 million second-lien facility is CCC, two notches below the corporate credit rating, with a recovery rating of 6.

Total Safety will use proceeds from the $10 million first-lien add-on loan for acquisitions and to pay down its revolving credit facility, the agency said.

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