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S&P: USI Holdings loan B
Standard & Poor's said it assigned its B senior secured debt rating and 2 recovery rating to USI Holdings Corp.'s planned $100 million incremental senior secured term loan due in May 2014.
At the same time, the agency said it affirmed its B- long-term counterparty credit rating on USI, as well as the B issue-level rating and 2 recovery rating on USI's existing senior secured facilities. The agency also affirmed the CCC issue-level rating and 6 recovery on USI's unsecured facilities.
The outlook is positive.
S&P said the affirmation and positive outlook reflect its belief that the company's credit profile will remain within its previously stated expectations for 2012.
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