S&P affirms URS Holdco loan rating

S&P said it affirmed its B issue-level rating on URS Holdco Inc.'s first-lien term loan due 2024 following the company's announcement of a $92 million add-on, which will increase the total principal outstanding on the facility to $385 million.

URS Holdco Inc. and its subsidiary United Road Services Inc. are the borrowers on the term loan.

The 3 recovery rating on the term loan remains unchanged, indicating an expectation that lenders would receive meaningful (50%-70%; rounded estimate: 65%) recovery of principal in the event of a payment default.

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