S&P assigns B- to Epic Y loan

S&P said it assigned B- issue-level and 4 recovery ratings to Epic Y Grade Services LP’s planned $1.075 billion senior secured term loan B due 2029 and affirmed its B- issuer rating.

The company also will increase its super-priority revolving credit facility to $70 million from $40 million and extend its maturity to 2029 from 2027.

Epic intends to merge with EPIC Propane Holdings LP using the $1.075 billion senior secured term loan B to refinance both its senior secured term loan of about $987 million due 2027 and EPIC Propane's loan of about $77 million due 2026.

The outlook is stable.

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