S&P gives B to Arcline FM loan

S&P said it gave B issue-level and 3 recovery ratings to Arcline FM Holdings LLC (Fairbanks Morse Defense).

The agency concurrently affirmed Fairbanks Morse Defense’s B issuer rating as well as the B and CCC+ issue-level ratings on the company's outstanding first-lien and second-lien term loans, respectively. The 3 and 6 recovery ratings, respectively, are unchanged.

FMD plans to add a $185 million incremental first-lien term loan to fund the acquisition of American Fan and bolster liquidity.

The outlook is stable.

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