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Fortress Transportation And Infrastructure Investors LLC ‘B+’ Senior Unsecured Notes Rating Affirmed On Proposed Add-On

          NEW YORK (S&P Global Ratings) Dec. 18, 2017--S&P Global Ratings today affirmed its 'B+' issue-level rating on New York-based Fortress Transportation and Infrastructure Investors LLC's senior unsecured notes following the company's announcement of a proposed $75 million add-on. The '2' recovery rating remains unchanged, indicating our expectation that lenders would receive substantial (70%-90%; rounded estimate: 85%) recovery of their principal in the event of a payment default.
          The add-on will feature the same terms as the existing notes, which have an interest rate of 6.75% and mature on March 15, 2022. The company will use the proceeds from the add-on for general corporate purposes, including to fund future investments.