S&P rates AutoTrader loan BB+

Standard & Poor's said it assigned its issue-level ratings to AutoTrader.com Inc.'s $100 million incremental term loan A-2 due 2016.

The term loan is rated BB+, the same as the corporate credit rating on the company, the agency said, noting that it also assigned the facility a recovery rating of 3.

S&P said it affirmed all other ratings, including the BB+ corporate credit rating.

The outlook is stable.

The company plans to use the proceeds of the term loan A-2, $15 million of revolver borrowings and new equity to fund the acquisition of vAuto Inc., the agency added.

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