Superior Plus Corp.
TSX : SPB

Superior Plus Corp.

December 11, 2013 15:44 ET

Superior Plus Announces Upgrades to its Standard & Poor's Credit Ratings

CALGARY, ALBERTA--(Marketwired - Dec. 11, 2013) - Superior Plus Corp. (TSX:SPB) ("Superior") is pleased to announce that Standard & Poor's (S&P) has increased Superior's long-term corporate credit rating to BB from BB- and increased Superior Plus LP's senior secured note rating to BBB- from BB+. The outlook for the long-term corporate credit rating remains stable.

Wayne Bingham, Executive Vice-President and Chief Financial Officer stated, "Superior is pleased with the upgrade in our credit rating from S&P. Superior has made debt reduction a priority over the last three years and as a result we have made significant progress in reducing our total leverage, with a total debt to EBITDA ratio of 3.6X as at September 30, 2013. We continue to have a strong focus on further reduction in our total leverage with a targeted total debt to EBITDA ratio of 3.0X to 3.5X."

About the Corporation

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

For further information about Superior, please visit our website at: www.superiorplus.com.

Forward Looking Information

Certain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. Forward-looking information in this Press Release includes but is not limited to, statements concerning future debt and leverage levels. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of assumptions, risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Superior's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These assumptions, risks and uncertainties include but are not limited to the risks identified in the Corporation's 2012 Annual Information Form under the heading "Forward Looking Information" and "Risk Factors", which is available on the SEDAR website (www.sedar.com). Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

Contact Information

  • Superior Plus Corp.
    Wayne Bingham
    Executive Vice-President and Chief Financial Officer
    (403) 218-2951 or Toll Free: 1-866-490-PLUS (7587)
    (403) 218-2973 (FAX)
    wbingham@superiorplus.com

    Superior Plus Corp.
    Jay Bachman
    Vice-President, Investor Relations and Treasurer
    (403) 218-2957 or Toll Free: 1-866-490-PLUS (7587)
    (403) 218-2973 (FAX)
    jbachman@superiorplus.com
    www.superiorplus.com