S&P rates Ozburn-Hessey loan B+

Standard & Poor's said it assigned its B+ corporate credit rating to Ozburn-Hessey Holding Co. LLC.

At the same time, a B+ rating was assigned to the company's $180 million credit facility, consisting of a $40 million revolving credit facility maturing in 2010 and a $140 million term loan B maturing in 2012, with a 5 recovery rating.

The outlook is stable.

The agency said the ratings reflect Ozburn-Hessey's competitive end markets, high debt leverage and the potential for debt-financed acquisitions, partly offset by favorable near-to-intermediate term industry fundamentals and benefits accruing from the company's nationwide presence and good technological capabilities.

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