...October 23, 2019 NEW YORK (S&P Global Ratings) Oct. 23, 2019--S&P Global Ratings today assigned its '##+' issue-level rating and '2' recovery rating to Beloit, Wisc.-based building materials supplier American Builders & Contractors Supply Co. Inc.'s proposed $700 million senior secured notes due 2028. ABC Supply intends to use the proceeds of the new notes to repay its $350 million senior unsecured notes due 2023 and repay $350 million on the company's term loan B. Our '##+' rating on the company's $1,483 million senior secured term loan and our 'B+' rating on the company's $600 million senior unsecured notes remain unchanged. Debt maturities - $1.0 billion ABL facility matures on Sept. 28, 2023; - $1.48 billion senior secured term loan matures Jan. 15, 2027; - $600 million senior unsecured notes mature on May 15, 2026; and - $700 million new senior secured notes mature on Jan. 15, 2028. ISSUE RATINGS--RECOVERY ANALYSIS Key Analytical Factors - ABC Supply's $1,483 million secured term loan...
