TEXT-S&P assigns J.B. Poindexter 'B' corp credit rating

Newswire

(The following statement was released by the rating agency) NEW YORK, Feb 27 - Standard & Poor's Ratings Services said today that it assigned its 'B' corporate credit and 'B-' senior unsecured debt ratings to Houston, Texas-based J.B. Poindexter & Co. Inc.'s $125 million senior unsecured notes due 2014. Proceeds from the notes issuance will be used to refinance existing debt issued in a distressed exchange offer in 2003, repay outstanding indebtedness at step-van operation Morgan ...

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