S&P: U.S. Security, loan B

Standard & Poor's said it assigned a preliminary B corporate credit rating to U.S. Security Associates Holdings Inc., along with a preliminary B rating to the proposed first-lien credit facilities with a preliminary recovery rating of 3, indicating 50% to 70% expected recovery in a default.

The first-lien credit facilities consist of a $75 million revolving credit facility, a $285 million term loan and a $75 million delayed draw term loan, S&P said.

The agency said it has not assigned a rating to the proposed $135 million senior unsecured notes, which are being sold in a private transaction.

The outlook is stable.

The ratings and BB- bank loan rating on U.S. Security Holdings Inc., which is a subsidiary of U.S. Security Associates, will be withdrawn following repayment of its bank debt, S&P said.

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