American Rock Salt Company LLC -- Moody's upgrades American Rock Salt's ratings to B2; outlook stable

New York, May 15, 2015 -- Moody's Investors Service has today upgraded American Rock Salt Company LLC's (American Rock Salt) corporate family rating (CFR) to B2 from B3, and the company's probability of default rating (PDR) to B2-PD from B3-PD. Concurrently, Moody's has upgraded the company's senior secured first-lien term loan to B2 from B3. The senior secured first-lien term loan is comprised of an outstanding $347.4 million due 2021, and a proposed $80 million incremental add-on to the outstanding first-lien term loan. The proceeds of the proposed incremental first-lien tern loan will be used, in conjunction with an additional $40 million of cash, to repay the company's existing $120 million senior secured, second-lien term loan due 2022. Once repaid, Moody's will withdraw the rating assigned to the second-lien term loan. The outlook on all ratings remain stable.

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