...+ U.S.-based SRS Distribution Inc. plans to issue an incremental $127 million first-lien term loan add-on and a $130 million second-lien term loan to fund a $264 million dividend to its owners. + The first-lien term loan add-on will increase the balance of SRS's existing $323 million first-lien term loan due 2022 to approximately $450 million. + We are revising our business risk assessment of the company to fair from weak. The financial risk profile remains highly leveraged. + As a result, we are affirming our 'B' corporate credit rating on SRS. At the same time, we are affirming our 'B' issue-level rating the company's first-lien term loan. The recovery rating on the term loan remains '3'. We are also assigning our '###+' issue-level rating and '6' recovery rating to the proposed $130 million second-lien term loan due 2023. + Our stable outlook reflects our view that SRS will experience meaningful revenue growth through 2016, but we expect the company to maintain a highly leveraged financial...
