Home Credit Ratings and Research S&P Global Ratings’ Credit Research American Rock Salt Co. LLC

Summary: American Rock Salt Co. LLC

Published Mar 06, 2014

2068 words — Published Mar 06, 2014

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Abstract:

Our 'B-' rating on American Rock Salt Co. LLC is derived from: Our anchor of 'b-', based on our "vulnerable" business risk and "highly leveraged" financial risk profile assessments for the company. The modifiers had no impact on the final rating Relatively small size with single-mine operations Risk of operating disruptions Highly seasonal demand characteristics tied to weather patterns Highly leveraged financial risk profile--we expect debt to EBITDA of 6x-8x in 2014 and 2015. Adequate liquidity position based on revolving credit facility availability and anticipated cash flow generation. The stable rating outlook reflects our view that the company will maintain adequate liquidity for the next 12 to 18 months while continuing to improve its EBITDA. This assumes weather patterns in

Brief Excerpt:

RESEARCH Summary: American Rock Salt Co. LLC Publication date: 06-Mar-2014 Primary Credit Analyst: Funmi Afonja, New York (1) 212-438-4711; funmi.afonja@standardandpoors.com Secondary Contact: Marie A Shmaruk, New York (1) 212-438-7816;...

Report Type:

Summary

Issuer

American Rock Salt Co. LLC

GICS

Diversified Metals & Mining (15104020)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

American Rock Salt Co.'s $350 Million First-Lien Loan Rated 'B'; $120 Million Second-Lien Loan Rated 'CCC' – 2014/04/23 – US$ 150.00

Research Update: American Rock Salt Co.'s $350 Million First-Lien Loan Rated 'B'; $120 Million Second-Lien Loan Rated 'CCC' – 2014/04/23 – US$ 225.00

American Rock Salt Co. LLC Corporate Credit Rating Raised To ?B?; Issue-Level Ratings Affirmed – 2015/05/15 – US$ 150.00

Research Update: American Rock Salt Co. LLC Corporate Credit Rating Raised To ?B?; Issue-Level Ratings Affirmed – 2015/05/15 – US$ 225.00

American Rock Salt Co. LLC 'B' Rating Affirmed, Outlook Stable; First-Lien Term Loan Rated 'B' – 2017/07/18 – US$ 150.00

American Rock Salt Co. LLC Outlook Revised To Stable From Negative On Improved Earnings; Ratings Affirmed – 2013/04/30 – US$ 150.00

Research Update: American Rock Salt Co. LLC Outlook Revised To Stable From Negative On Improved Earnings; Ratings Affirmed – 2013/04/30 – US$ 225.00

Summary: American Rock Salt Co. LLC – 2012/10/29 – US$ 225.00

American Rock Salt Co. LLC Downgraded To 'B-' From 'B' On Lower Revenues; Outlook Negative – 2012/04/27 – US$ 150.00

Research Update: American Rock Salt Co. LLC Downgraded To 'B-' From 'B' On Lower Revenues; Outlook Negative – 2012/04/27 – US$ 225.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:	S&P Global Ratings’ Credit Research. "Summary: American Rock Salt Co. LLC" Mar 06, 2014. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-American-Rock-Salt-Co-LLC-1270008>

APA:	S&P Global Ratings’ Credit Research. (). Summary: American Rock Salt Co. LLC Mar 06, 2014. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-American-Rock-Salt-Co-LLC-1270008>

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