Financial sponsor Kelso&Co. has acquired U.S. utility maintenance and infrastructure services provider PowerTeam Services LLC (PowerTeam). We are assigning our 'B' corporate credit rating to PowerTeam. We are also assigning a 'B' issue rating and a '3' recovery rating to the company's first-lien debt and a 'CCC+' issue rating and a '6' recovery rating to the company's second-lien term loan. The stable outlook reflects our belief that PowerTeam can achieve positive free cash flow in 2013 as a result of demand for the company's maintenance services and EBITDA margins in the high-teens percentage area. On Nov. 18, 2013, Standard&Poor's Ratings Services assigned its 'B' corporate credit rating to Raleigh, N.C.-based PowerTeam Services LLC (PowerTeam). The outlook
