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S&P upgrades United States Infrastructure loan
Standard & Poor's said it affirmed its B+ corporate credit rating on United States Infrastructure Corp. The outlook is stable.
At the same time, the agency said it raised its issue-level rating on the company's $250 million senior secured credit facility to BB- from B+ and revised the recovery rating to 2, indicating an expectation of a substantial recovery in the event of a payment default.
S&P said the higher issue-level rating is based on the assumption of a higher gross enterprise value at emergence, reflecting lesser uncertainty regarding integration costs and synergies from its acquisitions.
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