S&P revises USF view to negative

S&P said it revised the outlook on USF Holdings LLC to negative from stable and affirmed its B issuer credit rating on the company and B+ issue-level rating on the company’s term loan B.

“The negative outlook reflects USF’s increased refinancing risk, as well as the ongoing tight covenant headroom. Although we think USF should be able to refinance, there is a chance that continued market weakness or lower profitability will affect USF’s ability to refinance within the first half of 2020,” said S&P in a press release.

USF’s loan matures in December 2021.

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