S&P rates Koosharem loan CCC

Standard & Poor's said it assigned a CCC rating and a recovery rating of 5 to Koosharem Corp.'s (B-/stable) $55 million second-lien term loan.

The corporate credit rating and outlook and the B- bank loan and 3 recovery ratings on the first-lien facilities are unaffected, the agency added.

"The ratings reflect significant integration risk associated with acquiring underperforming RemedyTemp and Koosharem's small earnings base, high leverage and limited geographic diversity," said S&P credit analyst Tulip Lim.

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