ASG Consolidated LLC http://www.alacrastore.com/company-snapshot/ASG_Consolidated_LLC-3669094 Saturday, October 11, 2008 11:55:37 PM 3669094 ASG Consolidated LLC en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/666732spcred/666732normThe latest News from S&Pglobal8/21/2008 3:34:38 PM100News666732United StatesPackaged Foods & MeatsUnited StatesGlobal IssuersCorporationsConsumer ProductsNewsNEW YORK (Standard&Poor's) Aug. 21, 2008--Standard&Poor's Ratings Services today said that it assigned its 'BB' (two notches above the 'B+' corporate credit rating) senior secured bank loan and '1' recovery rating to American Seafoods Group LLC's $50 million term loan B-3 due in 2012. The '1' recovery rating indicates the expectation of very high recovery (90% to 100%) in the event of a payment default. The company used this facility to help fund the majority of the purchase price of two American Fisheries Act fishing vessels and the related U.S. Bering Sea Pollock quota. The existing recovery and issues-level ratings for American Seafoods Group LLC's existing secured and unsecured debt remain unchanged. American Seafoods Group LLCUSA00210V30202030 302020 3020 30ASG Consolidated LLC382466USANEWSUSA02944P30202030 302020 3020 30American Seafoods Group LLC341457USA18421ZGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_161538_807868780moodys/PR_161538_807868780htmlGlobal Credit Research Rating Action ## AUG #### Rating Action: ASG Consolidated LLC Moody's rates American Seafoods' $## million term loan B add-on Ba# New York, August ##, #### -- Moody's Investors Service assigned a rating of Ba#...8/21/2008 12:42:08 AMhtmlASG Consolidated LLCAmerican Seafoods Group LLCAmerican Seafoods Group LLC; ASG Consolidated LLC807868780600052429150.0000NewsRating ActionPR_161538_807868780Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_807868780moodys/COP_807868780htmlGlobal Credit Research Credit Opinion ## AUG #### Credit Opinion: ASG Consolidated LLC ASG Consolidated LLC Seattle, Washington, United States Ratings Category Moody's Rating Outlook Stable Corporate Family Rating B# Senior Unsecured...7/26/2008 12:35:00 AMhtmlASG Consolidated LLCASG Consolidated LLC807868780150.0000NewsCredit OpinionCOP_807868780Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661332spcred/661332normThe latest News from S&Pglobal7/24/2008 1:08:30 PM100News661332United StatesPackaged Foods & MeatsUnited StatesGlobal IssuersCorporationsConsumer ProductsNewsCHICAGO (Standard&Poor's) July 24, 2008--Standard&Poor's Ratings Services today affirmed the rating on ASG Consolidated LLC's (ASGC) senior unsecured notes, following the announcement that the company increased the size of the issue to $251 million, from $196 million through a $55 million add-on offering. The notes are rated 'B+' (the same as the corporate credit rating). We also revised the recovery rating on the notes to '3', indicating the expectation for meaningful (50%-70%) recovery in the event of a payment default, from '4'. At the same time, we revised the outlook on ASGC, and its wholly owned operating subsidiary American Seafoods Group LLC, to negative from stable, while affirming ASGC's other existing ratings, including its 'B+' corporateUSA00210V30202030 302020 3020 30ASG Consolidated LLC382466USANEWSUSA02944P30202030 302020 3020 30American Seafoods Group LLC341457USA18421ZGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/661333spcred/661333normThe latest Research Update from S&Pglobal7/24/2008 1:08:30 PM175Research Update661333United StatesPackaged Foods & MeatsUnited StatesGlobal IssuersCorporationsConsumer ProductsResearch UpdateOn July 24, 2008, Standard&Poor's Ratings Services affirmed the rating on ASG Consolidated LLC's (ASGC) senior unsecured notes, following the announcement that the company increased the size of the issue to $251 million, from $196 million through a $55 million add-on offering. The notes are rated 'B+' (the same as the corporate credit rating). We also revised the recovery rating on the notes to '3', indicating the expectation for meaningful (50%-70%) recovery in the event of a payment default, from '4'. At the same time, we revised the outlook on ASGC, and its wholly owned operating subsidiary American Seafoods Group LLC (ASG), to negative from stable, while affirming ASGC's other existing ratings, including its 'B+' corporate credit rating.USA00210V30202030 302020 3020 30ASG Consolidated LLC382466USARESUPDUSA02944P30202030 302020 3020 30American Seafoods Group LLC341457USA18421ZGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_159662_807868780moodys/PR_159662_807868780htmlGlobal Credit Research Rating Action ## JUL #### Rating Action: ASG Consolidated LLC Moody's rates ASG's $## million discount notes at B# New York, July ##, #### -- Moody's Investors Service assigned a rating of B# to the $## million...7/23/2008 12:43:18 AMhtmlASG Consolidated LLCAmerican Seafoods Group LLCAmerican Seafoods Group LLC; ASG Consolidated LLC807868780600052429150.0000NewsRating ActionPR_159662_807868780Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/619908spcred/619908normThe latest Full Report from S&P12/14/2007 1:26:35 PMFull Report400global619908United StatesPackaged Foods & MeatsUnited StatesGlobal IssuersCorporationsConsumer ProductsFull ReportThe company's position as the largest and lowest-cost producer in the industry; Regulatory support under the American Fisheries Act and a proven track record under a highly regulated environment; and Fully integrated provider with a strong distribution network. A highly leveraged capital structure and aggressive financial policy; Participation in a competitive, commodity-oriented business; and Quota limitations. The ratings on Seattle, Wash.-based ASG Consolidated LLC (ASGC) and its wholly owned operating subsidiary-- American Seafoods Group LLC (ASG)--and the co-issuer of the company's senior discount notes, ASG Finance Inc. (ASGF), reflect the company's aggressive financial policy and participation in the competitive, commodity-oriented commercial fishing industry. ASGC has the leading position as the largest and lowest-cost producer in the industry, along with aUSA00210V30202030 302020 3020 30ASG Consolidated LLC382466USAFULLUSA02944P30202030 302020 3020 30American Seafoods Group LLC341457USA18421ZGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/619909spcred/619909normThe latest Summary from S&P12/14/2007 1:26:35 PMSummary175global619909United StatesPackaged Foods & MeatsUnited StatesGlobal IssuersCorporationsConsumer ProductsSummaryThe ratings on Seattle, Wash.-based ASG Consolidated LLC (ASGC) and its wholly owned operating subsidiary--American Seafoods Group LLC (ASG)--and the co-issuer of the company's senior discount notes, ASG Finance Inc. (ASGF), reflect the company's aggressive financial policy and participation in the competitive, commodity-oriented commercial fishing industry. ASGC has the leading position as the largest and lowest-cost producer in the industry, along with a proven track record operating under the highly regulated environment. However, this is outweighed by the company's high debt leverage. For analytical purposes, Standard&Poor's Ratings Services views ASGC, ASG, and ASGF as one economic entity, and they are accordingly analyzed on a consolidated basis. ASGC is a vertically integrated seafood harvesting, processing, and marketing company, operatingUSA00210V30202030 302020 3020 30ASG Consolidated LLC382466USASUMMARYUSA02944P30202030 302020 3020 30American Seafoods Group LLC341457USA18421ZGLOBISSCORPConsumerCredit & Investment ResearchS&P Credit Research