S&P rates West Corp. notes B

Standard & Poor's said it assigned West Corp.'s proposed $650 million senior unsecured notes due 2019 a B issue rating with 5 recovery rating, indicating expectation of 10% to 30% recovery.

The corporate credit rating is B+.

The outlook is stable.

Proceeds will be used to redeem the company's $650 million 9.5% senior notes due 2014.

For the 12 months ended Sept. 30, the lease-adjusted total debt-to-EBITDA ratio was 5.6x, a moderate decline from 5.9x at the end of 2009.

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