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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. For more information about SRM Concrete, visit www.smyrnareadymix.com/locations.asp. About Us The El Colombiano newspaper has reported that the deal includes a five-year cement supply agreement for all 23 plants. 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." 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. 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. ", Ryan said that he knows it is a given that even brand-new equipment is going to have a service issue, "but it is how you handle those problems that matters, and even with Power's other offerings, they have always stepped up and made it right for us.". MOODYS PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODYS ANALYTICS, INC. Murfreesboro, TN 37129 Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. "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. SRM Concrete's reach and presence is unmatched in the industry. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. 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. 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. Aggregate Equipment Guide is the best source for news, how-to's and equipment for the Aggregate Industry. 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. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity.