S&P assigns ADS Tactical loan B+

S&P said it rated ADS Tactical Inc.’s planned $700 million term loan B+ with a 4 recovery rating. S&P also affirmed ADS’ B+ issuer rating.

Proceeds and a $20 million draw on its new $200 million asset-based lending facility will be used to refinance its term loan and notes, pay down $146 million of borrowings under its existing ABL and pay a $266 million dividend to its owners.

The outlook is stable.

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