S&P rates Apro facilities B

S&P said it assigned a B rating to Apro LLC’s senior secured credit facilities along with a recovery rating of 3.

Apro, which does business as United Pacific, is refinancing its capital structure, S&P said.

The company plans to issue a $50 million revolving credit facility, a $350 million term loan, and a $100 million delayed-draw term loan to repay debt, to fund a dividend, and to fund other cash flow needs.

Proceeds from the delayed-draw term loan will be used to finance future acquisitions.

The agency affirmed its B rating on Apro.

The outlook is stable.

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