...NEW YORK (S&P Global Ratings) June 29, 2017--S&P Global Ratings today said that its ratings on Mechanicsville, Va.-based bowling center operator Bowlmor AMF Corp.'s (Bowlmor) first-lien credit facility and second-lien term loan are unaffected by the company's proposed plans to increase the size of the first-lien term loan due 2024 by $50 million and reduce the size of the second-lien term loan due 2025 by the same amount. The first-lien term loan of $585 million, which incorporates the increased amount, is rated 'B+'. The '2' recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 70%) recovery in the event of payment default. The rounded estimate of recovery decreased to 70% from 75% because of more first-lien debt in the capital structure, resulting in modestly lower expected recovery prospects for first-lien lenders. The second-lien term loan of $110 million, which incorporates the reduced amount, is rated '###+'. The '6' recovery rating indicates our expectation...
