On Jan. 11, 2005, Standard&Poor's Ratings Services assigned its 'B' corporate credit rating to the funeral home and cemetery operator Carriage Services Inc., and assigned its 'B-' debt rating to the company's proposed $130 million in senior unsecured notes due in 2015, issued under Rule 144A with registration rights. The company is expected to use the proceeds from the issue for existing debt refinancing and general corporate purposes. Pro forma debt outstanding (including the company's term income deferrable equity securities, or TIDES) is $238 million. The outlook is stable. Carriage's unsecured senior notes are rated 'B-', or one notch below the corporate credit rating, in line with Standard&Poor's criteria. Although these notes are considered senior, the
