SRM acquires Florida based Superior Concrete, Xpress Materials, and A-Materials. Smyrna Ready Mix Concrete, better known as SRM Concrete, offers a range of services, but its concentration on ready-mix, mining and materials production has made it one of the fastest growing operations in the eastern half of the United States. Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. Social Responsibilty What was once a simple ready-mix plant is now a company capable of handling the multiple needs of countless numbers of building contractors. A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Gretchen French Associate Managing Director Corporate Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. SRM Concrete's Huge Success Due to Teamwork of Family Smyrna Ready Mix: Employee Directory | ZoomInfo.com Martin Marietta to Sell Colorado and Central Texas Ready Mixed Concrete Our website makes it easy to find the machines you need fast. SRM acquires Southeast Ready Mix based in Savannah, Georgia. Careers, Place An Order (MJKK) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moodys Overseas Holdings Inc., a wholly-owned subsidiary of MCO. Corporate and facility ratings are B+/B1, with a 3 recovery rating from S&P Global Ratings. Locations SRM acquires Bayou Materials in Jackson, Alabama. Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. Delivering quality concrete with unmatched service, Supplying quality stone and materials for customers, Providing quality concrete construction products, Faster and more accurately in hard to reach places. Smyrna Ready Mix Concrete launches $315M TLB; commitments due Oct. 29 The German company Bscher started in 1961 as a concrete plant and its business grew with, among others, a container service. Looking for more information? There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. "We started here and now consider it our signature quarry for digging limestone that we use to make numerous things, like concrete and asphalt for road construction.". CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. MOODYS ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. SRM Concrete | Quality Concrete, Unmatched Service Mike and Melissa Hollingshead founded Smyrna Ready Mix and build first plant in backyard. said Emile El Nems, a Moody's VP-Senior Credit Officer. (615) 355-1028 SRM acquires St. Johns River Concrete based in Palatka, Florida. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. Information regarding certain affiliations that may exist between directors of MCO and rated entities, and between entities who hold credit ratings from Moodys Investors Service and have also publicly reported to the SEC an ownership interest in MCO of more than 5%, is posted annually at www.moodys.com under the heading Investor Relations Corporate Governance Director and Shareholder Affiliation Policy.Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODYS affiliate, Moodys Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moodys Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle . info@smyrnareadymix.com Smyrna Ready Mix Concrete launches $315M TLB; commitments due Oct. 29, Essential IR Insights Newsletter - March 2023, Continuous Financial Health Management of Suppliers, A Cloud Migration Plan for Corporations featuring Snowflake, In Search of Resilience Part 1 - A Data-Driven Scoreboard. US: Argos USA has agreed to sell a total of 23 US ready-mix concrete batching plants to Smyrna Ready Mix Concrete for US$93m. Company Store Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. All customer reviews are handled by the BBB where the company is Headquartered or a central customer review processing location. At-a-glance. SRM acquires Cornerstone Ready Mix based in Augusta, Georgia. Houston, TX 77049-2660. Featured Products SRM opens new plant in Panama City Beach. Established in 1999 by Mike and Melissa Hollingshead in Smyrna, Tennessee, the family-owned company owns and operates an expansive network of ready-mix concrete plants, quarries, cement terminals, and other ancillary services. Smyrna Ready Mix Concrete serves construction industry in the United States. An unusual choice for most folks, certainly, but Mike did so only because he was often frustrated in getting the materials he needed to run his small concrete business. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. At the same time, Moody's rating takes into consideration the company's vulnerability to cyclical end markets, the competitive nature of its ready-mix concrete business, its acquisitive growth strategy, and material revenue exposure to Tennessee and Florida.Moody's expects Smyrna to maintain very good liquidity over the next 12-18 months. 152.228.212.223 SRM Concrete locations. SAN DIEGO (August 5, 2014) - The Greystone Group announced today that it served as exclusive financial advisor to Harper Industries, Inc. in the sale of its subsidiary, Metro Ready Mix Concrete to Smyrna Ready Mix Concrete.Metro Ready Mix is the 3 rd transaction managed by Greystone for Harper in the past 5 years. SMYRNA READY MIX CONCRETE LLC : DBA Name: SRM CONCRETE - PIQUA CONCRETE - SRM JONES AND STONE DRILLING - HOLLINGSHEAD CEMENT : Physical Address: 1000 HOLLINGSHEAD CIRCLE MURFREESBORO, TN 37129 Phone: (615) 355-1028 Mailing Address: 1136 SECOND AVE NORTH NASHVILLE, TN 37208 USDOT Number: 1738904 : State Carrier ID Number: The Company offers concrete mix designs, admixtures, reinforcing products, stone, gravel, sand, soil, pumping, and hauling includes footers, slabs, and accelerators. SRM Concrete products are designed to increase the strength, workability, and quality of the concrete our customers receive. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. After meeting with the companys new team members, SRM Chairman, Mike Hollingshead stated, We are looking forward to building relationships with our new SRM team members and their families for years to come.. International Association of Better Business Bureaus. Credit Application Concrete, Inc., which is wholly owned by Vulcan Materials Company. Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. By continuing to access this document from within Australia, you represent to MOODYS that you are, or are accessing the document as a representative of, a wholesale client and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to retail clients within the meaning of section 761G of the Corporations Act 2001. CONTACT US CONCRETE CALCULATOR CUSTOMER LOGIN Products & Services ConcreteSRM MaterialsBlockProductsPumpingHollingshead CementHollingshead Harbor Customers SRM Concrete is the largest ready-mix concrete supplier in the United States with locations spanning 16 states. MOODYS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. Murfreesboro, TN 37129 Privacy Policy Metro Ready Mix Concrete | The Greystone Group It means so much more because we are working as a team, and we do everything together outside of work, like go to church and go on vacations.". Smyrna Ready Mix Concrete LLC is in market today with a $315 million term loan B, according to sources. SRM Concrete's reach and presence is unmatched in the industry. With its concrete production, SRM concentrates its attention on residential projects, he said, adding that it is working at many large home developments along the East Coast. From manufacturers such as Cedarapids, Doppstadt, Extec, Kleemann, McCloskey, Metso, Nordberg, Pioneer, Powerscreen, Screen Machine, Superior, Terex, and more. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. SRM Concrete | Quality Concrete, Unmatched Service SRM acquires Vulcan Materials in Richmond, Virginia. Murfreesboro, TN 37129 Social Responsibilty If you are interested in joining a team dynamic that separates from the rest, let's talk. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle SRM acquires Georgia based CAB Concrete and Candler Ready Mix. Performance & security by Cloudflare. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. One of SRM's raw materials divisions, Hollingshead Cement, supplies bulk cement for numerous applications, including ready-mix concrete, block, concrete products, precast concrete and soil stabilization. Quarry, located in La Fargeville, N.Y., has been serving the north country of New York State with crushed limestone, sand and topsoil for the past 25 years. Murfreesboro, TN 37129 SRMs Komatsu PC490-11 excavator loads an HD325-8 40-ton quarry truck. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 2022 Moodys Corporation, Moodys Investors Service, Inc., Moodys Analytics, Inc. and/or their licensors and affiliates (collectively, MOODYS). CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. Rating Action: Moody's upgrades Smyrna's CFR to Ba3; Assigns Ba3 to senior secured debt; outlook stableGlobal Credit Research - 10 Mar 2022New York, March 10, 2022 -- Moody's Investors Service (Moody's) upgraded Smyrna Ready Mix Concrete, LLC's (Smyrna) Corporate Family Rating (CFR) to Ba3 from B1, Probability of Default Rating (PDR) to Ba3-PD from B1-PD, and the rating on the company's senior secured notes to Ba3 from B1. Smyrna Ready Mix Concrete, LLC is a manufacturer and retailer of ready-mixed concrete in Tennessee, Florida, Kentucky, Ohio, Indiana, Texas, Georgia, Alabama, Arkansas, Michigan, South Carolina and Virginia. SRM acquires Hicks Concrete based in Mulberry, Florida. "At SRM, we consider safety an investment in our employees, and we want to make sure that our people can clock in and out every day. This documentary-style series follows investigative journalists as they uncover the truth. smyrna ready mix concrete llc smyrna ready mix llc srm concrete smyrna ready mix srmconcrete smyrna ready mix concrete Smyrna Ready Mix Global Presence Search All Employees Your IP: We list equipment in all the major aggregate categories including conveyors, feeders, stackers, crushers, magnets, screening equipment, washing equipment, and more. Careers, Place An Order SRM acquires North Alabama based Keenum Concrete. SRM Concrete is the largest privately-owned ready-mix concrete manufacturer in the country. Through SRM Products, the parent company has expanded into building and maintaining facilities to support its different construction services, such as warehouses that stock and deliver a variety of concrete related products, including rebar, wire mesh, form lumber, masonry materials, waterproofing materials, decorative and color materials and finishing tools. Smyrna Ready Mix Concrete, LLC manufactures and supplies concrete products. SRM CONCRETE Revenue, Growth & Competitor Profile - IncFact.com Locations Smyrna Ready Mix Concrete | Better Business Bureau Profile Proceeds will be used to fund certain acquisitions, refinance existing debt and for general corporate purposes. Smyrna Ready Mix Concrete LLC - Company Profile and News Murfreesboro, TN 37129 MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. In fact, he added, "There is not one complaint against Power Equipment that I could ever make. For more information about Power Equipment, visit www.powerequipco.com. This addition is one of SRMs largest acquisitions to date with over 600 new team members. Moodys SF Japan K.K. We started Smyrna Ready Mix to service our own concrete needs, because we were not receiving reliable customer service from the local ready-mix companies. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. For almost 40 years, SBM Mineral Processing has been consistently using diesel-electric drive systems and is a supplier of cross-technological hybrids for track-mobile jaw and impact crushers from under 50,000 to 350,000 lbs. SRM Concrete | Quality Concrete, Unmatched Service SRM opens sand plant in Crab Orchard, Tennessee. Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. Smyrna Ready Mix - Overview, News & Competitors | ZoomInfo.com "Dad was in the ready-mix business working for himself finishing driveways and patios locally, but he kept getting poor service from a distributor due to the larger jobs they had going," said Ryan Hollingshead, Mike's son, and the current president of SRM Aggregates, a division of the larger company. Lora Smith 1136 Second Avenue North. AND/OR ITS AFFILIATES. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. Credit Application This website is using a security service to protect itself from online attacks. Careers, Place An Order Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. In addition, we are on the water in Jackson, Ala., about an hour north of Mobile, where we are loading rock and hauling it south to Panama City, Fla.". All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODYS (COLLECTIVELY, PUBLICATIONS) MAY INCLUDE SUCH CURRENT OPINIONS. Smyrna Ready Mix provides ready mix concrete services to contractors, professional home builders, and do-it-yourself home owners, and provides material hauling and concrete pumping services. Close to home, for example, some of SRM's largest contracts have included the building of the downtown Nashville Convention Center, and the nearby Bridgestone Tower. Privacy Policy Quarry Meet Growth Challenges, VIDEO: ESCO PosiGrab II Hydraulic Coupler, Place an equipment listing on Aggregate Equipment Guide. The El Colombiano newspaper has reported that the deal includes a five-year cement supply agreement for all 23 plants. (615) 355-1028 Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided AS IS without warranty of any kind. SRM acquires Sequatchie Concrete assets in Middle TN. . SRM acquires Florida based Griswold Concrete and KMR Concrete. Contact Information. 5303 S Lake Houston Pkwy. For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; Financing also includes a $100 million ABL revolver due 2025 with a springing fixed-charge covenant, S&P Global Ratings said in a report. Lenders are offered six months of 101 soft call protection. "Going forward, we expect this management team to remain focused on execution, pursue additional tuck-in acquisitions, and remain committed to a conservative financial policy. Contact Information. The outlook remains stable.The rating upgrades reflect Moody's expectation of the continued strengthening of Smyrna's credit profile following the successful integration of several bolt-on acquisitions during 2020 and 2021, a larger and more geographically diversified revenue base, greater predictability of free cash flow, and a commitment by the management team to maintain modest leverage.The Ba3 rating assigned to the $650 million senior secured term loan facility maturing in 2029 and to the $1,100 million Senior Secured Notes maturing in 2028, is on par with the CFR reflecting their position as the preponderance of debt in Smyrna's capital structure. We just feel comfortable with them. "The following rating actions were taken:Upgrades:..Issuer: Smyrna Ready Mix Concrete, LLC. Corporate Family Rating, Upgraded to Ba3 from B1. Probability of Default Rating, Upgraded to Ba3-PD from B1-PD.Senior Secured Regular Bond/Debenture, Upgraded to Ba3 (LGD4) from B1 (LGD4)Assignments:..Issuer: Smyrna Ready Mix Concrete, LLC.Gtd Senior Secured Term Loan B, Assigned Ba3 (LGD4)Outlook Actions:..Issuer: Smyrna Ready Mix Concrete, LLC.Outlook, Remains StableRATINGS RATIONALESmyrna's Ba3 Corporate Family Rating reflects the company's market position as one of the leading regional producers of construction materials in Tennessee, Florida, Georgia, Colorado Kentucky, Texas and Michigan, increasingly vertically integrated assets and broad customer base. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure.These ratings are solicited. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice, SRM Acquires Young Trucking in Southwest Florida, SRM Acquires Titan Ready Mix in Covington, GA, SRM Acquires Darby Ready Mix in Southeast Michigan, SRM Acquires Clinton-Tecumseh Aggregates in Southeast Michigan, SRM Acquires 18 Argos ready-mix locations in NC and Florida, SRM Acquires 37 ready-mix locations in Colorado, Wyoming, and Texas, SRM Acquires Charley's Concrete in the DFW Market, SRM Acquires JJ's Concrete in Central Indiana, SRM Acquires Louisville-based Allstate Ready Mix, SRM Acquires Jones & Stone Drilling in Middle Tennessee, SRM Acquires Bowling Green Concrete in South Central Kentucky, SRM Acquires T&H Concrete Products in Lewisburg, TN, SRM Acquires Indiana Phoenix Mixer Company, Hollingshead Cement Opens Cement Terminal in Middletown, OH. Smyrna Ready Mix Concrete to acquire 23 ready-mix concrete plants from The action you just performed triggered the security solution. The deal was upsized from $515 million and pricing finalized at the wide end of guidance, according to market sources. Locations About Us Price talk for the seven-year covenant-lite term loan B is L+375-400, with a 0.75% Libor floor, offered at 99. This is largely driven by Moody's view that the US economy will improve sequentially and remain supportive of the company's underlying growth drivers.The proposed term loan includes an ability to incur incremental indebtedness up to either $500 million, or the greater of 100% of LTM EBITDA so long as the pro forma net leverage ratio does not exceed 3.85x for first lien debt and 4.35x for junior debt.FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGSThe ratings could be upgraded if the company improves free cash flow and maintains a conservative financial strategy such that debt-to-EBITDA is sustained below 3.5x, adjusted retained cash flow to net debt is approaching 20%, and EBIT-to-interest expense is approaching 3.0x.The ratings could be downgraded if the company's operating performance and liquidity deteriorates and financial strategy becomes aggressive such that debt-to-EBITDA is sustained above 4.5x, adjusted retained cash flow to net debt is below 10%, and EBIT-to-interest expense is sustain below 2.0x.The principal methodology used in these ratings was Building Materials published in September 2021 and available at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1287900. Company Store "I can assure you that my dad is heavily involved in everything he can get his hands on," Ryan said with a laugh. Company profile page for Smyrna Ready Mix Concrete LLC including stock price, company news, press releases, executives, board members, and contact information The deal was upsized from $515 million and pricing finalized at the wide end of guidance, according to market sources. BBB Business Profiles are subject to change at any time. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle Developed for ease-of-use and operator safety, ESCO's latest innovation the ESCO PosiGrab II hydraulic coupler has undergone extensive testing and benchmarking against similar products. Huntsville, TX 77340. FIND A SUPPLIER: GET A QUOTE: INDUSTRYNET BLOG: ABOUT INDUSTRYNET: MARKETING SOLUTIONS : IndustryNet Account. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. The asset based revolving credit facility, which expires in 2026, is governed by a springing fixed-charge coverage ratio of 1.0x, that comes into effect if availability under the asset based revolving credit facility is less than 15% of the total revolver availability.The stable outlook reflects Moody's expectation that Smyrna will grow revenue organically, maintain good operating performance, generate solid free cash flow, and remain committed to modest leverage. While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. Privacy Policy The company serves bulk cement throughout the Southeast and Midwest United States. It is classified as operating in the Nonmetallic Mineral Product Manufacturing industry. Smyrna Ready Mix Concrete, better known as SRM Concrete, offers a range of services, but its concentration on ready-mix, mining and materials production has made it one of the fastest growing operations in the eastern half of the United States. About Us SRM Acquires Kentucky based Kentucky Concrete. Pro forma for the transaction, Smyrna's liquidity position is supported by roughly $15 million of cash, a $250 million asset based revolving credit facility, under which Moody's expects $210 million will remain available, and Moody's expectation that the company will generate around $150 million in free cash flow in 2022. Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating. You can email the site owner to let them know you were blocked. The company operates within two primary segments: (i) ready-mixed concrete, which accounts for more than 90% of revenue, and (ii) aggregates and other construction materials, which accounts for the remaining % amount.Smyrna's revenue for the last twelve months ending December 31, 2021, was about $1.5 billion.REGULATORY DISCLOSURESFor further specification of Moody's key rating assumptions and sensitivity analysis, see the sections Methodology Assumptions and Sensitivity to Assumptions in the disclosure form. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. (615) 355-1028. The division is only a few years old but already counts 16 quarries that include plants to create crushed limestone, river rock and natural sand products. SRM Concrete | Quality Concrete, Unmatched Service SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. Emile El Nems VP - Senior Credit Officer Corporate Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. SRM expanded its roster of quarries, Ryan noted, in what he described as "an organic fashion" to complement its other existing services in a particular marketplace. The SRM Materials Division, for instance, provides a vast range of products made or mined at facilities from Michigan to Florida, and as far west as Texas. We have a good relationship that is carried over to our business. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. ET on Oct. 29. That acquisition was just one of many that SRM Concrete made over the years as its coffers grew and it identified opportunities to move into new markets. The company's senior secured debt is contractually subordinated to the company's $250 million Asset Based Revolving Credit Facility expiring in 2026 which is secured by the account receivable and inventory.The proceeds from the proposed $650 million offering will be used primarily to fund pending acquisitions. MOODYS credit rating is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to retail investors.Additional terms for Japan only: Moody's Japan K.K.