S&P rates World Acceptance B+, notes B

Standard & Poor's said it assigned its B+ issuer credit rating to World Acceptance Corp.

The outlook is negative.

At the same time, the agency assigned its B issue rating on the company's proposed $250 million senior unsecured notes due 2020.

"Standard & Poor's rating on World Acceptance reflects the company's concentrated business model and high exposure to regulatory, legislative, and operational risks," S&P credit analyst Shakir Taylor said in a news release.

The company's low leverage, which is largely supported by its ability to generate strong profits and tangible equity, partially offsets some of these weaknesses.

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