...+ U.S.-based SRS Distribution Inc. plans to issue a $325 million first-lien term loan to refinance its existing $215 million first-lien term loan and $100 million mezzanine notes. + We are affirming our 'B' corporate credit rating on the company based on our "weak" business risk profile and "highly leveraged" financial risk profile of the company. + We are assigning our 'B' issue-level rating and '3' recovery rating to SRS' proposed $325 million first-lien term loan. + The stable rating outlook reflects our expectation that the company will continue to generate modest positive free cash flow and maintain adequate liquidity while reducing total adjusted leverage (including lease obligations) to about 5x by fiscal year-end 2015. DALLAS (Standard & Poor's) Aug. 5, 2015--Standard & Poor's Ratings Services said today it affirmed its 'B' corporate credit rating on McKinney, Texas-based SRS Distribution Inc. The outlook is stable. At the same time, we assigned our 'B' issue-level rating (the same...
