S&P gives ACS Media, loan B

Standard & Poor's said it assigned its B senior secured debt rating and 2 recovery rating to ACS Media LLC's planned $140 million senior secured credit facilities, which will consist of a $10 million, six-year revolving credit facility and a $130 million, seven-year term loan.

At the same time, S&P said it assigned a B corporate credit rating to the company. The outlook is stable.

The agency noted that the ratings on ACS Media reflect the company's substantial debt levels, absence of geographic diversity and a relatively small cash flow base, adding that these factors are somewhat tempered by ACS Media's strong market positions, healthy operating cash flow margins, fairly stable and predictable revenues and cash flow, minimum capital expenditure needs and modest required debt amortization.

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