S&P affirms West

Standard & Poor's said it affirmed its B+ loan and 2 recovery ratings on the senior secured first-lien bank facility of West Corp. (B+/stable), following the announcement that the company will add $135 million to its first-lien term loan.

The bank loan rating is at the same level as the corporate credit rating, the agency said, adding that the 2 recovery rating indicates the expectation for substantial recovery of principal in the event of a payment default.

Pro forma for the proposed add-on term loan, the facility will consist of a $250 million revolving credit facility due 2012 and a $2.4 billion term loan B due 2013, the agency noted.

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