S&P rates FleetPride loans B+

Standard & Poor's said it placed FleetPride Corp.'s B corporate credit rating on CreditWatch with positive implications.

The agency also said it assigned B+ ratings and 3 recovery ratings to the company's proposed $60 million revolver and $370 million term loan.

Upon completion of the proposed financing, the agency said it plans to raise the corporate credit rating to B+ with a stable outlook.

The proposed financing extends the maturity dates of the company's capital structure by several years, S&P said.

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