S&P rates American Tire loan B-

Standard & Poor's said it assigned its B- issue-level and 5 recovery ratings to American Tire Distributors Inc.'s proposed new $720 million senior secured term loan due 2021, which will replace the company's existing $300 million and $420 million senior secured term loans due 2018.

The issue-level rating is one notch below the corporate credit rating.

The 5 recovery rating indicates an expectation for modest recovery at the high end of the range (10%-30%) for debtholders in the event of a payment default.

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