S&P gives Ozburn-Hessey loans B, CCC+

Standard & Poor's said it assigned a B rating to Ozburn-Hessey Holding Co. LLC's new $310 million first-lien senior secured credit facility, which consists of a $35 million revolving bank loan and a $275 million term loan B.

The recovery rating is 3.

The agency said it also assigned a CCC+ rating to the company's $75 million second-lien senior secured term loan, and a six recovery rating.

Despite increased debt leverage, the ratings receive support from stable industry fundamentals in the third-party logistics segment, as well as the company's relatively stable mix of end markets, S&P said.

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