S&P rates Mattress Firm loan B+

S&P said it revised its outlook to positive from stable and affirmed its B+ issuer credit rating on Mattress Firm Inc.

At the same time, the agency assigned a B+ rating on the company's proposed $1.1 billion senior secured term loan. The recovery rating is 3, indicating an expectation for a meaningful recovery (50%-70%; rounded recovery: 65%).

“The positive outlook reflects the potential that we will raise our rating on Mattress Firm if its management team continues to successfully execute its omni-channel and private-label expansion strategies while increasing the company's EBITDA,” S&P said in a news release.

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