NEW YORK (S&P Global Ratings) Nov. 30, 2017--S&P Global Ratings said today that its ratings and outlook on Roswell, Ga.-based SiteOne Landscape Supply Inc. (BB-/Stable/--) are not affected by the company's issuance of a $50 million add-on to its first-lien term loan due 2022. We expect the company to use the proceeds to repay a drawn portion of its existing $325 million asset-based lending (ABL) facility. SiteOne continues to benefit from its acquisition strategy and robust growth in its primary end markets--namely U.S. residential and nonresidential construction. SiteOne has acquired eight companies since the beginning of 2017, adding approximately $130 million in sales while maintaining adjusted debt leverage of about 3.5x for the latest 12 months ended Oct. 1, 2017.
