PowerTeam Services LLC Ratings Unaffected By Proposed $40 Million Add-On To First-Lien Term Loan - S&P Global Ratings’ Credit Research

PowerTeam Services LLC Ratings Unaffected By Proposed $40 Million Add-On To First-Lien Term Loan

PowerTeam Services LLC Ratings Unaffected By Proposed $40 Million Add-On To First-Lien Term Loan - S&P Global Ratings’ Credit Research
PowerTeam Services LLC Ratings Unaffected By Proposed $40 Million Add-On To First-Lien Term Loan
Published Aug 10, 2015
3 pages (1203 words) — Published Aug 10, 2015
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (Standard&Poor's) Aug. 10, 2015--Standard&Poor's Ratings Services said today that its 'B+' issue-level rating and '2' recovery rating on U.S.-based utility maintenance and infrastructure services provider PowerTeam Services LLC's first-lien term loan due 2020 are not affected by the company's proposed $40 million add-on to the loan. The company's existing first-lien credit facilities include a $60 million revolving credit facility due 2018 and $453 million (including the proposed add-on) in term loans due 2020. The '2' recovery rating on the first-lien debt indicates our expectation of substantial (70%-90%; upper half of the range) recovery in the event of a default. This add-on will be an amendment to the company's existing first-lien term loan and will

  
Brief Excerpt:

...NEW YORK (Standard & Poor's) Aug. 10, 2015--Standard & Poor's Ratings Services said today that its 'B+' issue-level rating and '2' recovery rating on U.S.-based utility maintenance and infrastructure services provider PowerTeam Services LLC's first-lien term loan due 2020 are not affected by the company's proposed $40 million add-on to the loan. The company's existing first-lien credit facilities include a $60 million revolving credit facility due 2018 and $453 million (including the proposed add-on) in term loans due 2020. The '2' recovery rating on the first-lien debt indicates our expectation of substantial (70%-90%; upper half of the range) recovery in the event of a default. This add-on will be an amendment to the company's existing first-lien term loan and will be used in connection with a proposed acquisition by PowerTeam. All of our other ratings on PowerTeam, including our 'B' corporate credit rating, are unchanged. Our ratings on PowerTeam reflect the company's high debt leverage...

  
Report Type:

Ratings Action

Issuer
Artera Services LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "PowerTeam Services LLC Ratings Unaffected By Proposed $40 Million Add-On To First-Lien Term Loan" Aug 10, 2015. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/PowerTeam-Services-LLC-Ratings-Unaffected-By-Proposed-40-Million-Add-On-To-First-Lien-Term-Loan-1431768>
  
APA:
S&P Global Ratings’ Credit Research. (). PowerTeam Services LLC Ratings Unaffected By Proposed $40 Million Add-On To First-Lien Term Loan Aug 10, 2015. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/PowerTeam-Services-LLC-Ratings-Unaffected-By-Proposed-40-Million-Add-On-To-First-Lien-Term-Loan-1431768>
  
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