(The following statement was released by the rating agency)
Oct 2 - Standard & Poor's Ratings Services said today that its ratings (including issue ratings) and outlook on Transtar Holding Co. (B/Stable/-) are unaffected by the company's announced change in its loan mix. The first-lien term loan is now expected to be $320 million (up from $295 million) and the second-lien term loan $140 million (down from $165 million). Total debt raised does not change. We understand that overall pricing improves, and interest expense will be modestly lower than we previously assumed. For more information, please see, "Transtar Holding Co. Rating Lowered To 'B' On Higher Leverage; Outlook Stable," published Sept. 19, 2012, on RatingsDirect, and "Recovery Report: Transtar Holding Co.'s Recovery Rating Profile," published Sept. 21.
(New York Ratings Team)