S&P rates YP loan B

Standard & Poor's said it assigned a B long-term corporate credit rating to YP Holdings LLC.

The outlook is stable.

S&P also said it assigned a rating of B with a recovery rating of 4 to the company's $775 million senior secured term loan due 2018.

The 4 rating indicates 30% to 50% expected default recovery.

The ratings reflect the company's vulnerable business risk profile based on the sector's steady structural decline, S&P said, and its aggressive financial profile based on the potential for rapid decline in revenue and EBITDA.

YP has a large presence in the U.S. print- and online-advertising marketplace through its yellow pages print directories and online, and mobile local-search and marketing solutions, the agency said.

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