S&P: Advantage Sales unchanged

Standard & Poor’s said the B rating and 3 recovery rating on Advantage Sales & Marketing Inc.’s first-lien term loan due 2021 are not affected by the company’s $150 million add-on to the loan.

The upsized amount totals $2.01 billion, S&P said.

The proceeds of the incremental first-lien term loan will be used to fund bolt-on acquisitions.

All of the other ratings on the company, including its B corporate credit rating, also are unchanged.

The outlook is stable.

The ratings reflect the company’s significant debt burden and majority ownership by a financial sponsor, S&P said.

The company’s credit metrics are weak with forecasted leverage at more than 8x, the agency said.

The ratings also consider the company’s good market position and favorable industry dynamics, S&P said.

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