S&P gives AmerCable loan B

Standard & Poor's said it assigned its B senior secured bank loan and 2 recovery ratings to the $15 million revolving credit facility of AmerCable Inc. (B-/stable).

At the same time, the agency said it raised the bank loan ratings on the $100 million first-lien term loan to B, one notch above the corporate credit rating, from B- and revised the recovery rating to 2, from 3.

The 2 recovery rating indicates the expectation of substantial recovery in the event of a payment default, S&P said, adding that the revision is due to the decrease in the first-lien term loan debt to $100 million from $135 million and the removal of the revolving credit facility's superpriority status over the first-lien term loan.

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