Romeoville, Ill.-based KeHE Distributors Holdings LLC's wholly owned subsidiaries KeHE Distributors LLC and KeHE Finance Corp. are issuing $200 million second-lien notes to refinance existing debt and redeem preferred stock. We are assigning a 'B+' corporate credit rating to KeHE Distributors Holdings LLC and a 'B' issue-level rating with a '5' recovery rating to the proposed $200 million second-lien notes due 2021. The stable outlook reflects our view that good growth prospects and the company's niche market position will support KeHE's operating results in 2013. On July 23, 2013, Standard&Poor's Ratings Services assigned a 'B+' corporate credit rating to KeHE Distributors Holdings LLC. The outlook is stable. KeHE Distributors Holdings is the parent company of KeHE Distributors LLC
