CENTENNIAL (S&P Global Ratings) Jan. 19, 2021--Granite US Holdings Corp. (B-/Positive/--) announced today that it is seeking to reprice its approximately $889 million senior secured term loan to LIBOR plus 425 basis points (bps)-450 bps from LIBOR plus 525 bps. Other than the proposed pricing change and the soft call option being extended for an additional six months from closing, there are no other expected changes to the terms of the facility. Our 'B-' issuer credit rating and positive outlook on Granite US Holdings Corp. remain unchanged. The positive outlook reflects that we could upgrade the company over the next 12 months if it is able to sustain its good operating performance despite the pandemic-related headwinds. Our 'B-' issue-level rating
