...+ Apollo Global Management LLC has formed Cloud Crane LLC to facilitate its acquisitions of Maxim Crane Works L.P. and Amquip Crane Rental. + We are assigning our 'B' corporate credit rating to Cloud Crane LLC. + At the same time, we are assigning our 'B' issue-level rating to the company's proposed $470 million second-priority notes due 2024. + The stable outlook reflects our expectation that Cloud Crane will maintain an adjusted debt-to-EBITDA metric of between 4x and 5x and a funds from operations (FFO)-to-total debt ratio of between 12% and 15% through 2017. NEW YORK (S&P Global Ratings) July 11, 2016--S&P Global Ratings said today that it has assigned its 'B' corporate credit rating to Cloud Crane LLC. The outlook is stable. At the same time, we assigned our 'B' issue-level rating and '3' recovery rating to the company's proposed $470 million second-priority notes due 2024. The '3' recovery rating indicates our expectation for meaningful recovery (50%-70%; lower half of the range)...
