S&P affirms Deluxe Entertainment

Standard & Poor's said it affirmed its loan and recovery ratings on the senior secured first-lien bank facility of Deluxe Entertainment Services Group Inc. (B/stable), following the announcement that the company will increase its first-lien term loan to $610 million from $585 million to help fund a special dividend.

The secured loan rating is B, at the same level as the B corporate credit rating and the recovery rating is 3, the agency noted.

Pro forma for the add-on, the first-lien facility will consist of a $125 million unfunded revolving credit facility due 2011, a $25 million prefunded revolving credit facility due 2013, a $560 million U.S. term loan due 2013 and a $50 million Canadian term loan due 2013, the agency said.

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