Rating Action: Moody's assigns B2 to SRS' proposed term loanGlobal Credit Research - 05 Jan 2022Approximately $700 million of rated debtNew York, January 05, 2022 -- Moody's Investors Service (Moody's) assigned a B2 rating to SRS Distribution Inc.'s ("SRS") proposed senior secured term loan, ranking pari passu to the company's existing senior secured debt. REWAVE has created a new consolidated music distribution and promotion platform intended to provide artists with a relatively easy means of getting their music heard. Private companies dont always get the attention they deserve compared to their public peers, but this year was different. Debate over the contentious revenue distribution model is set to dominate the International Cricket Councils meetings with affluent India set to become wealthier. SRS Distribution Inc. -- Moody's assigns B2 to SRS' proposed term loan By using this site you agree to our privacy policy. SRS Distribution Inc. Credit Rating - Moody's Experience SRS Distribution Inc. 1 year 6 months Vice President of Credit Operations Jun 2023 - Present2 months McKinney, Texas, United States See what a career with SRS has to offer. Continue Forgot your customer code ? SRS currently operates under a family of distinct local brands encompassing more than 650 locations across 44 states. Listings of issuers under review for rating changes. The B2 ratings on the company's senior secured debt and the Caa2 ratings on SRS' unsecured notes are not affected as well. Information about training seminars, briefings, and teleconferences. For this reason in 2012, the SRS management team formed the SRS Raise the Roof Foundation, Inc., a non-profit organization whose mission is easily stated in three words "AND GIVE BACK.". 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. The distribution of building products, of which roofing-related products are the great majority, now accounts for 75% of SRS' pro forma revenue, down from nearly 90% for the past year. This site uses cookies. Please reduce your list by using the filtering tool to the left. Write a review . In the past 15 months SRS has increased its balance sheet debt by nearly 150% to $5.0 billion from $2.0 billion October 31, 2020, resulting in SRS remaining highly leveraged. The maximum number of items you can export is 3,000. Our corporate family knows the importance of coming together and giving back. Descriptive frameworks underlying Moody's ratings. 6The rating history for this credit rating accurately reflects the current status of the (sf) indicator but, due to technical limitations, does not accurately reflect the (sf) indicator history. SRS is a place where every employee feels they belong and where they can live their best lives while helping to change the industry. 6The rating history for this credit rating accurately reflects the current status of the (sf) indicator but, due to technical limitations, does not accurately reflect the (sf) indicator history. Improving your credit score, correcting errors, ordering your credit report and more. They provide our employees with opportunities for community, leadership development, and a platform for organizational influence. SRS Distribution Inc. Overview Since 1977 with headquarters in Seoul, Korea Sales of $34.8 billion, 7th Global standings (Sales in 2021, Standing in 2019 Automotive News) 29,953 employees worldwide (Korea: 10,725 / Overseas: 19,228) S&P BBB+ / Moody's Baa1 Credit Rating (Dated: Sept. 30, 2021) Revenue Breakdown (2021) By Business Components - 19% Modules - 46% "SRS made a splash by acquiring AquaCentral, but at a cost: more debt, higher leverage and increased execution risk," according to Peter Doyle, Vice President at Moody's.The following ratings are affected by today's action:Assignments:..Issuer: SRS Distribution Inc..Gtd Senior Secured Term Loan B, Assigned B2 (LGD3)RATINGS RATIONALESRS' B3 CFR reflects Moody's expectation that SRS will remain highly leveraged. Announces Appointment of June Yang to Board of Directors. A good liquidity profile characterized by significant revolver availability and no maturities until 2026 further support SRS' credit profile.The stable outlook reflects Moody's expectation that SRS will benefit from growth in inelastic demand for roofing products, SRS' primary source of revenue, and higher demand for its Heritage products. See jobs, salaries, employee reviews and more for Credit Manager careers at SRS Distribution . The estimated total pay for a Regional Credit Manager at SRS Distribution is $140,572 per year. 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). The new system is accessible 24 hours a day, seven days a week, and offers roofers an easy, paperless and secure process for obtaining materials needed to complete any job. At the same time SRS faces strong competition and the potential for material shareholder return activity.Providing an offset to SRS' leveraged capital structure is good profitability. Stew Leonard, the retail guru who turned an ordinary grocery store into a legendary retail experience, passed away on April 26, 2023, at age 93. full data on over 700 000 bonds, stocks & ETFs; ratings & financial reports; Over 650 Staffed Locations & Growing. Find the latest ratings, reports, data, and analytics on SRS Distribution Inc. 7440 State Highway 121McKinney, TX 75070-2196, Phone: (214) 491-4149 Fax: (214) 491-4149 Email: info@srsdistribution.com. The maximum number of items you can export is 3,000. Your account has been deleted, thanks for being with us, You will have detailed descriptive & pricing data for 650K bonds, 76K stocks, 8K ETFs, Get full access to the platform from any device & via Cbonds app, Enhance your portfolio management with Cbonds Excel Add-in, Build yield maps, make chart comparison within a click, This functionality is available for registred users only, Investment Bank & Legal Advisor League Tables, S&P Global Ratings affirms SRS Distribution at "B-" (Local Currency LT credit rating); outlook stable, S&P Global Ratings affirms SRS Distribution at "B-" (Foreign Currency LT credit rating); outlook stable, Moody's Investors Service affirms SRS Distribution at "B3" (LT- foreign currency credit rating); outlook stable, Moody's Investors Service affirms SRS Distribution at "Caa2" (LT- local currency credit rating); outlook stable, Moody's affirms SRS' B3 CFR; downgrades senior secured debt to B3 (Rating action commentary). Mr. Koch immigrated from Germany to New York in 1949. From regional sales managers, branch managers, in-branch workers to delivery drivers and roof loaders, the opportunities . Gavi's plan ensured that, when Covid-19 vaccines became available, they would be distributed equitably, underscoring the critical role lawyers play in the impact world. Phone: (214) 491-4149 Fax: (214) 491-4149 Email: info@srsdistribution.com About Us | SRS Distribution Further information on the EU endorsement status and on the Moody's office that issued the credit rating is available on www.moodys.com.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the UK and is endorsed by Moody's Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the UK. Forced distribution practices often have an underlying budgetary motive. SRS Distribution Location 7440 State Hwy 121, McKinney, Texas, 75070, United States Description Industry Home Improvement & Hardware Retail Retail Discover more about SRS Distribution Wayne Jarvis Work Experience and Education The estimated base pay is $84,387 per year. SRS delivers on our commitment to serving the professional roofing contractor while providing the resources to make working with us easier. SRS Distribution announces expansion in Nevada with the acquisition of Washoe Building Supply Inc. SRS Raise the Roof Foundation announce Founders Circle commitment to new National Medal of Honor Museum in Arlington, TX, SRS Distribution honored as a 2023 VETS Indexes 4 Star Employer, SRS Distribution Selected for New CCO Employer Award. Mr. Koch was a savvy business man with an eye for development. SRS Distribution. Moody's announces completion of a periodic review of ratings of SRS Distribution Inc. Moody's affirms SRS Distribution's B3 CFR, assigns B3 to proposed secured debt and Caa2 to proposed notes; outlook stable, SRS Distribution, Inc.: Update to key credit considerations. 67. Credit Manager at SRS Distribution | Indeed.com Our roofing brands have branches nationwide. Moody's CreditView is our flagship solution for global capital markets that incorporates credit ratings, research and data from Moody's Investors Service plus research, data and content from Moody's Analytics. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODYS PRIOR WRITTEN CONSENT.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.All information contained herein is obtained by MOODYS from sources believed by it to be accurate and reliable. There are too many sessions currently in use on this account. Dies At 93, Apple TV+ Jumps Into Theatrical Movie Distribution, Americas Largest Private Companies 2022: Twitter And Continental Resources Join The Ranks, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The SRS Distribution family of roofing supply stores stock and deliver high-quality, high-performing products from all major manufacturers of roofing materials. S&P Global Ratings affirms SRS Distribution at "B-" (Foreign Currency SRS Distribution announces expansion in Tennessee with the acquisition of Metro Roofing & Metal Supply Co., Inc. As one of the fastest growing companies in the building products industry, SRS Distribution is always seeking top candidates for positions in over 650 locations throughout North America. The estimated additional pay is $53,338 per year. By using this site you agree to our privacy policy. Charles Edwards, CCE - Vice President of Credit Operations - SRS Fixed charges including cash interest, term loan amortization and operating lease and equipment finance payments will approach $400 million per year, significantly reducing financial flexibility. All rights reserved. The main travel retail store at the airport will increase in size by over 50% as a result of the extended contract. We brought you to this page based on your search query. Open An Account | SRS Distribution 7440 State Highway 121 McKinney, TX 75070-2196. Descriptive frameworks underlying Moody's ratings. Roofing Supply Stores | SRS Distribution
How Far Is Ontario, California From Disneyland,
Card Shows In Florida Today,
Python Make List Of Lists To List,
Miami Beach Alcohol Sales Hours,
Articles S