S&P rates AL Gulf Coast loan BBB-

Standard & Poor's said it assigned a preliminary BBB- rating to AL Gulf Coast Terminals LLC's $305 million senior secured term loan B. The rating is conditional on the receipt of final documents.

The project-financed entity is using proceeds to pay off an existing $150 million facility, fund a debt service reserve account and make a distribution payment to equity owners, S&P said.

The outlook is stable.

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