Bulletin: ATS Consolidated Inc. Ratings Are Unaffected By Second-Lien Term Loan Upsize - S&P Global Ratings’ Credit Research

Bulletin: ATS Consolidated Inc. Ratings Are Unaffected By Second-Lien Term Loan Upsize

Bulletin: ATS Consolidated Inc. Ratings Are Unaffected By Second-Lien Term Loan Upsize - S&P Global Ratings’ Credit Research
Bulletin: ATS Consolidated Inc. Ratings Are Unaffected By Second-Lien Term Loan Upsize
Published May 24, 2017
2 pages (891 words) — Published May 24, 2017
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) May 24, 2017--S&P Global Ratings today said its ratings on Mesa, Ariz.-based traffic safety and tolling service provider ATS Consolidated Inc. (B/Stable/--) including the 'B' issue-level and '3' recovery ratings on its first-lien debt and the 'CCC+' issue-level rating and '6' recovery rating on the second-lien debt following the upsize of the company's second lien to $125 million from $100 million. While total debt increases slightly resulting in adjusted leverage of around 5.6x up from 5.3x, ATS is still below our downside trigger of sustained leverage above 6x.

  
Brief Excerpt:

...NEW YORK (S&P Global Ratings) May 24, 2017--S&P Global Ratings today said its ratings on Mesa, Ariz.-based traffic safety and tolling service provider ATS Consolidated Inc. (B/Stable/--) including the 'B' issue-level and '3' recovery ratings on its first-lien debt and the '###+' issue-level rating and '6' recovery rating on the second-lien debt following the upsize of the company's second lien to $125 million from $100 million. While total debt increases slightly resulting in adjusted leverage of around 5.6x up from 5.3x, ATS is still below our downside trigger of sustained leverage above 6x. Only a rating committee may determine a rating action and this report does not constitute a rating action....

  
Report Type:

Bulletin

Ticker
0226829Z
Issuer
ATS Consolidated, Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: ATS Consolidated Inc. Ratings Are Unaffected By Second-Lien Term Loan Upsize" May 24, 2017. Alacra Store. May 02, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-ATS-Consolidated-Inc-Ratings-Are-Unaffected-By-Second-Lien-Term-Loan-Upsize-1855821>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: ATS Consolidated Inc. Ratings Are Unaffected By Second-Lien Term Loan Upsize May 24, 2017. New York, NY: Alacra Store. Retrieved May 02, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-ATS-Consolidated-Inc-Ratings-Are-Unaffected-By-Second-Lien-Term-Loan-Upsize-1855821>
  
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