S&P rates U.S. Concrete loan BB+

S&P said it gave a BB+ rating to U.S. Concrete Inc.’s planned $300 million term loan to repay its $200 million outstanding senior unsecured notes due 2024 and repay outstanding asset-based loan borrowings due 2022.

Concurrently, the agency sliced the rating on senior unsecured notes due 2029 to B from BB-, citing lower recovery prospects because of more secured debt and affirmed the BB- issuer rating.

The outlook is stable.

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