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SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. Concrete, Inc., which is wholly owned by Vulcan Materials Company. Meritain Information SRM acquires concrete company in Danville, Kentucky. However, MOODYS is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications.To the extent permitted by law, MOODYS and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if MOODYS or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by MOODYS.To the extent permitted by law, MOODYS and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODYS or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information.NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODYS IN ANY FORM OR MANNER WHATSOEVER.Moodys Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moodys Corporation (MCO), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moodys Investors Service, Inc. have, prior to assignment of any credit rating, agreed to pay to Moodys Investors Service, Inc. for credit ratings opinions and services rendered by it fees ranging from $1,000 to approximately $5,000,000. A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). If you are interested in joining a team dynamic that separates from the rest, let's talk. SRM Concrete | Quality Concrete, Unmatched Service Murfreesboro, TN 37129 Privacy Policy Moody's assigns B1 CFR to Smyrna; B1 to sr. secured credit facility 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 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. "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. Market Intelligence a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt . For more information about SRM Concrete, visit www.smyrnareadymix.com/locations.asp. SRM opens Harbor in Panama City Beach, Florida. SRM acquires Reed Ready Mix based in Huntsville, Alabama. (615) 355-1028. The largest of four transactions announced April 1 netted 37 central Texas, Colorado and Wyoming sites from Martin Marietta Materials, which had indicated an asset sale agreement with SRM Concrete in mid-March. Contact Information. 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. 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. Corporate and facility ratings are B+/B1, with a 3 recovery rating from S&P Global Ratings. SRM acquires Kentucky based All-Rite Ready Mix and Tucker Ready Mix. It is classified as operating in the Nonmetallic Mineral Product Manufacturing industry. "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. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. SRM opens new plant in St. Augustine, Florida. 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. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle You can email the site owner to let them know you were blocked. SRM acquires Kentucky based Grant County Ready Mix and Gallatin County Ready Mix. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. Aggregate Equipment Guide is a project of Construction Equipment Guide, putting machines in front of buyers for over 60 years. Our Team Smyrna Ready Mix Concrete, LLC - Yahoo Finance (615) 355-1028 Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. BBB reports on known marketplace practices. After seeing 140,000 visitors and a positive mood in all participating industries, ConExpo-Con/AGG closed with an extremely positive result. Pro forma for the proposed financing and the bolt-on acquisitions, Moody's projects Smyrna's leverage will be 3.9x at December 31, 2022 (including Moody's adjustments).Over the past three years, Smyrna has materially grown its profitability (organically and through acquisitions), invested in the business, and maintained a disciplined approach to balance sheet management and liquidity." Contact Information. SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. 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. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. Featured Products Smyrna Ready Mix Eric Johnson, president and founder of Ceasars Equipment, grew up around the aggregate business and has always had a passion for aggregate machines. Smyrna Ready Mix Concrete serves construction industry in the United States. Meritain Information Martin Marietta, Argos, Charley's deals close SRM Concrete's robust Q1 Click to reveal Transcript:The Supply Chain Crisis That Could Wreck the Bourbon Industry, Eskom Latest: Outages Intensify; Five CEO Candidates Shortlisted, Corporate America Focuses on Cost Cuts and Layoffs Not Growth, Peru Inflation Falls Below 8%, Supporting Central Bank Ambitions, IMF Chief Says Rising Rates Exposed Banking Vulnerabilities, Blackstones Real Estate Trust Limits Withdrawals for Sixth Straight Month, JPMorgans Venture Arm Makes Fertility Bet in $25 Million Deal, Jack Ma Joins University of Tokyo as Visiting Professor, Snap Hires Former Meta Execsto Bolster Ad Business, The White House Is Probing How Companies Use AI to Surveil and Manage Workers, McCarthy Says He Supports Aid to Ukraine, Urges Russia to Leave, Durbin Promises to Move Ahead With Supreme Court Ethics Legislation Despite Pushback, Dimon Defies Big-Bank Critics, Winning FDIC Auction to Keep Expanding, I Bond Rate Drops to 4.3% asCooling Inflation Drags YieldLower, Whats Trending Today: JPMorgan Buys First Republic, Virginia Tornado, Hollywood Writers Strike, Chinese Tourists, Loyal Wynn Guests Key for NewUAE Resort, Officials Say, JPMorgan Jumps to the Rescue at First Republic For a Price, If the BankingCrisis Offers One Lesson, Let It Be This, JPMorgan, First Republic and the Curse of the SecondBest, The Boring Old Box Truck Gets the Tesla Treatment, For Banks Under Stress, Theres a Federal Backstop That Provides Help Without Stigma, What the US Can Learn From Europes ESG Mistakes, Trump Is Denied Mistrial Over Unfair Rulings in E. Jean Carroll Case, Workers Well-BeingTops Agenda at Annual Shareholder Meetings, Bara DitchingPrivate Jet for Train Points toGreener Football, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. SRM Acquires Transit Mix based in Johnson City, TN. Privacy Policy Mike and Melissa Hollingshead founded Smyrna Ready Mix and build first plant in backyard. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (ASSESSMENTS), AND OTHER OPINIONS INCLUDED IN MOODYS PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. From the company's limestone mines, many in Tennessee and Alabama where the rock is abundant, 10 different aggregate sizes are produced, he said, although other products can be created with screen changes. The company also has been involved in many commercial jobs throughout its territories. 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). SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle content , Factbox-U.S. debt ceiling standoff: Platinum coins, the 14th Amendment could be paths out, White House to study employer tools that monitor workers, Attacks on delivery drivers add fears among gig workers, Milken Latest: PGIMs CEO Says Markets Are Too Optimistic Now, US STOCKS-S&P, Dow edge higher as JPMorgan gains; Fed meet in focus. SMYRNA, TN - November 25th, 2022. Smyrna Ready Mix LLC today completed its $830 million offering of eight-year senior secured notes via J.P. Morgan, BNP Paribas, BofA Securities, and Goldman Sachs. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. Visit Website. "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. Lenders are offered six months of 101 soft call protection.

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