Bulletin: American Builders&Contractors Supply Co. Inc.'s Term Loan Extension Is Credit Neutral - S&P Global Ratings’ Credit Research

Bulletin: American Builders&Contractors Supply Co. Inc.'s Term Loan Extension Is Credit Neutral

Bulletin: American Builders&Contractors Supply Co. Inc.'s Term Loan Extension Is Credit Neutral - S&P Global Ratings’ Credit Research
Bulletin: American Builders&Contractors Supply Co. Inc.'s Term Loan Extension Is Credit Neutral
Published Jan 22, 2024
2 pages (925 words) — Published Jan 22, 2024
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Abstract:

ENGLEWOOD (S&P Global Ratings) Jan. 22, 2024--S&P Global Ratings today said that its ratings on American Builders&Contractors Supply Co. Inc. (BB/Positive/--), including its issue-level and recovery ratings, are unaffected by the company's amendment to its $1.4 billion senior secured term loan B. We expect the amendment to extend the facility's maturity date to 2031, from 2027, and reduce its interest expense. All of the financial covenants will remain unchanged.

  
Brief Excerpt:

...January 22, 2024 ENGLEWOOD (S&P Global Ratings) Jan. 22, 2024--S&P Global Ratings today said that its ratings on American Builders & Contractors Supply Co. Inc. (##/Positive/--), including its issue-level and recovery ratings, are unaffected by the company's amendment to its $1.4 billion senior secured term loan B. We expect the amendment to extend the facility's maturity date to 2031, from 2027, and reduce its interest expense. All of the financial covenants will remain unchanged....

  
Report Type:

Bulletin

Ticker
8572Z
Issuer
American Builders&Contractors Supply Co. Inc.
GICS
Distributors (25501010)
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: American Builders&Contractors Supply Co. Inc.'s Term Loan Extension Is Credit Neutral" Jan 22, 2024. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-American-Builders-Contractors-Supply-Co-Inc-s-Term-Loan-Extension-Is-Credit-Neutral-3114910>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: American Builders&Contractors Supply Co. Inc.'s Term Loan Extension Is Credit Neutral Jan 22, 2024. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-American-Builders-Contractors-Supply-Co-Inc-s-Term-Loan-Extension-Is-Credit-Neutral-3114910>
  
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