Mount Morris, N.Y.-based salt producer American Rock Salt Co. LLC is obtaining a new seven-year $510 million first-lien term loan. The company is also extending the maturity of its revolving credit facility and increasing its commitment amount. The company will use proceeds to refinance the $428 million first-lien term loan due 2021 and the remainder to fund a distribution to the holding company relating primarily to compensation for acquired entities. We are affirming our 'B' corporate credit rating on the company. We are also assigning our 'B' issue-level rating to its new $510 million first-lien term loan. The recovery rating is '4'. The stable outlook reflects our view that adjusted leverage will remain in the 6x-7x range over the next
