American Builders&Contractors Supply (ABC Supply) is seeking to raise a $1.875 billion term loan to finance the acquisition of L&W Supply, refinance its existing term loan, and cover related fees and expenses. We are affirming our 'BB' corporate credit rating on ABC Supply and are removing the rating from CreditWatch with negative implications. We are also assigning our 'BB+' issue-level rating and '2' recovery rating to the company's proposed term loan B due 2023. At the same time, we are lowering our senior unsecured issue-level ratings on both the $500 million and $350 million senior unsecured notes due 2021 and 2023, respectively, to 'B+' from 'BB' and are revising the recovery ratings on the notes to '6' from
