S&P rates Patriot Rail loan B

S&P said it assigned a B rating with a recovery rating of 2 (rounded estimate: 70%) to Patriot Rail & Ports’ proposed $325 million first-lien credit facility, consisting of a $285 million term loan and a $40 million revolver.

First State Investments will use the loan and an equity contribution to buy the company from Steel River Infrastructure Partners.

S&P assigned a B- rating to the company.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.