S&P trimmed Echo Global facilities

S&P said it trimmed Echo Global Logistics Inc.’s planned first-lien credit facilities to B from B+ and the recovery rating to 3 (50%-70% recovery prospects; rounded estimate: 65%) from 2 (70%-90%; rounded estimate: 70%) on the increased size of the first-lien loan.

Echo plans to boost the first-lien term loan to $575 million from $550 million by shifting $25 million from its proposed $160 second-lien, unrated term loan. The revised amount of the second-lien loan will be $135 million.

The terms of the transaction still include a planned $100 million revolving credit facility, the amount of which is unchanged by this transaction.

Echo’s B issuer rating is unchanged.

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