Nuclear decommissioning, commercial building deconstruction, and diversified environmental services provider NorthStar Group Services Inc. is launching an issuance of a $100 million asset-based revolving credit facility ( not rated) due 2029 and a $740 million senior secured term loan due 2030. The company had previously attempted to launch a similar issuance in November of 2023, but we withdrew the ratings on that proposed loan when the deal was not completed. We affirmed our ratings, including our 'B' issuer credit rating, on NorthStar. We assigned our 'B+' issue-level rating and '2' recovery rating to the proposed secured term loan. The stable outlook reflects our view that NorthStar will continue to generate solid profitability from its mix of infrastructure and environmental projects
