DBRS rates Superior Plus notes BB (high)

DBRS said it assigned a rating of BB (high) to Superior Plus LP's C$150 million of 8¼% senior unsecured debentures, series C, maturing on Oct. 27, 2016.

The trend is stable.

Proceeds will be used to repay existing bank debt under Superior's credit facility and for general corporate purposes.

The agency said it expects the company's cash flow and asset coverage to be adequate for the debentures.

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