Contact Information. We started Smyrna Ready Mix to service our own concrete needs, because we were not receiving reliable customer service from the local ready-mix companies. Featured Products Houston, TX 77049-2660. SRM Concrete is the largest privately-owned ready-mix concrete manufacturer in the country. Nashville, TN 37208. info@smyrnareadymix.com Murfreesboro, TN 37129 SRM Acquires Kentucky based Kentucky Concrete. SEE APPLICABLE MOODYS RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODYS CREDIT RATINGS. How has SRM Concrete responded to COVID-19? 18of the plants are situated in North Carolina and the remainder in Southwest Florida. Company Store Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. "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. For a complete list of our locations and to learn more about SRM Concrete, please visit smyrnareadymix.com. SRM acquires Southeast Ready Mix based in Savannah, Georgia. 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 smyrna ready mix llc srm concrete smyrna ready mix srmconcrete smyrna ready mix concrete Smyrna Ready Mix Global Presence Search All Employees 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. "Going forward, we expect this management team to remain focused on execution, pursue additional tuck-in acquisitions, and remain committed to a conservative financial policy. What was once a simple ready-mix plant is now a company capable of handling the multiple needs of countless numbers of building contractors. Company Store "We crush rock here at Smyrna, but of all our many locations, this plant means more to us because we were born and raised within a quarter mile of this facility," Ryan said. In fact, he added, "There is not one complaint against Power Equipment that I could ever make. SRM acquires Argos Panhandle division in Florida. Included in this acquisition are 28 ready-mix locations in New York, New Jersey, and Pennsylvania. said Emile El Nems, a Moody's VP-Senior Credit Officer. Close to home, for example, some of SRM's largest contracts have included the building of the downtown Nashville Convention Center, and the nearby Bridgestone Tower. Thu December 23, 2021 Eric Olson - CEG CONTRIBUTING EDITOR. About Us SRM Concrete is a family owned and operated ready-mix company founded by Melissa and Mike Hollingshead in 1999. For almost 40 years, SBM Mineral Processing has been consistently using diesel-electric drive systems and is a supplier of cross-technological hybrids for track-mobile jaw and impact crushers from under 50,000 to 350,000 lbs. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating. 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. Bloomberg Markets is focused on bringing you the most important global business and breaking markets news and information as it happens. 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. 4505 Anchorage Rd. 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." Hollingshead Mixer Company LLC 200 Dekko Dr Avilla, IN 46710 IN Steve Howard (260) 897-4397: Steve . From manufacturers such as Cedarapids, Doppstadt, Extec, Kleemann, McCloskey, Metso, Nordberg, Pioneer, Powerscreen, Screen Machine, Superior, Terex, and more. Note: Revenues for privately held companies are statistical evaluations. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. Cincinnati, OH 45226-2404. SRM opens Harbor in Panama City Beach, Florida. Smyrna Ready Mix prints upsized secured notes to yield 6%; terms, Banking Essentials Newsletter: 5th May Edition, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023, Banking Essentials Newsletter: 5th April Edition. Although now headquartered in Nashville, the Hollingshead family company has not forgotten the site and the service that helped put it on the map years ago. BBB Business Profiles may not be reproduced for sales or promotional purposes. Within six months of launching SRM Concrete, though, other area concrete finishers took note of the new plant and began ordering from the family business. Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. SRM Concrete has pursued an active acquisition strategy, having successfully acquired and integrated over eightycompanies since 2005. SRM Concrete | Quality Concrete, Unmatched Service SRM provides quality ready mix concrete and construction materials to our customers throughout sixteen states. "[Dad] did not have a clue going in about what he was doing, and he had to work through that, but he had the good Lord's grace on his side," Ryan added. At-a-glance. Your IP: All complaints are handled by the BBB where the company is Headquartered or a central customer complaint processing location. 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. This rating reflects BBB's opinion about the entire organization's interactions with its customers, including interactions with local locations. We started Smyrna Ready Mix to service our own concrete needs, because we were not receiving reliable customer service from the local ready-mix companies. In addition, we are on the water in Jackson, Ala., about an hour north of Mobile, where we are loading rock and hauling it south to Panama City, Fla.". 50.69421 \\ 3.17456 \\ 213.32.24.66 \\ Roubaix \\ Hauts-de-France. Contact Us 4.6. Locations Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided AS IS without warranty of any kind. While Rokbak continues to build a global reputation for robust and reliable articulated haulers, just 50 mi. Contact Us Aggregate Equipment Guide is a project of Construction Equipment Guide, putting machines in front of buyers for over 60 years. MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. "Keep in mind that we also have sand mines, granite mines and gravel pits. MOODYS DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. This document is intended to be provided only to wholesale clients within the meaning of section 761G of the Corporations Act 2001. We offer a wide variety of concrete mix designs, admixtures, reinforcing products, aggregates, and more to mee Read More Contact Who is Smyrna Ready Mix Headquarters 1000 Hollingshead Cir, Murfreesboro, Tennessee, 37129, United States Phone Number (615) 355-1028 Website www.smyrnareadymix.com Revenue $340.1M Industry Building Materials Social Responsibilty International Association of Better Business Bureaus. Price talk for the seven-year covenant-lite term loan B is L+375-400, with a 0.75% Libor floor, offered at 99. All rights reserved.CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODYS (COLLECTIVELY, PUBLICATIONS) MAY INCLUDE SUCH CURRENT OPINIONS. Non-NRSRO Credit Ratings are assigned by an entity that is not a NRSRO and, consequently, the rated obligation will not qualify for certain types of treatment under U.S. laws. Our Team SRM acquires Sagamore Ready Mix in the Indianapolis market. MCO and Moodys Investors Service also maintain policies and procedures to address the independence of Moodys Investors Service credit ratings and credit rating processes. Careers, Place An Order SRM acquires Federal Materials Concrete based in Paducah, Kentucky. Lora Smith We have a good relationship that is carried over to our business. (615) 355-1028. CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. Quarry Meet Growth Challenges, VIDEO: ESCO PosiGrab II Hydraulic Coupler, Place an equipment listing on Aggregate Equipment Guide. Contact Us A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). SRM acquires Vulcan Materials in Richmond, Virginia. Cementos Argos said that the divestment is part of its plan to . Credit Application SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle But that's not to say he isn't involved with SRM's operations. Social Responsibilty Privacy Policy "We, of course, are ready-mix driven, so as we acquire ready-mix companies, if we see a need to have a quarry in that area, we will look to obtain one close by," he said. Featured Products 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. SRM acquires Kentucky based Grant County Ready Mix and Gallatin County Ready Mix. /marketintelligence/en/news-insights/latest-news-headlines/smyrna-ready-mix-prints-upsized-secured-notes-to-yield-6-terms-61038516 The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. SRM acquires Florida based Superior Concrete, Xpress Materials, and A-Materials. 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. You can email the site owner to let them know you were blocked. SRM acquires Premier Concrete and Elite in Georgia. latest-news-headlines The El Colombiano newspaper has reported that the deal includes a five-year cement supply agreement for all 23 plants. 2022 SRM Concrete, All Rights Reserved. Smyrna Ready Mix Concrete focuses on providing building material services across the commercial and residential construction segments. content Our Team Our company continues to expand, but our mission to provide every customer with quality concrete and unmatched service remains the same. "That is what made him want to put up his own concrete plant.". CEG. a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt . Murfreesboro, TN 37129 If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (ASSESSMENTS), AND OTHER OPINIONS INCLUDED IN MOODYS PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. (615) 355-1028 In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. Visit Website. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. Meritain Information By continuing to access this document from within Australia, you represent to MOODYS that you are, or are accessing the document as a representative of, a wholesale client and that neither you nor the entity you represent will directly or indirectly disseminate this document or its contents to retail clients within the meaning of section 761G of the Corporations Act 2001. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle Careers, Place An Order FIND A SUPPLIER: GET A QUOTE: INDUSTRYNET BLOG: ABOUT INDUSTRYNET: MARKETING SOLUTIONS : IndustryNet Account. Read more. 42% of survey respondents approved of the leadership response to COVID-19. One of SRM's raw materials divisions, Hollingshead Cement, supplies bulk cement for numerous applications, including ready-mix concrete, block, concrete products, precast concrete and soil stabilization. Social Responsibilty Cloudflare Ray ID: 7c09a60ae9f8f118 Looking for more information? SRM Concrete products are designed to increase the strength, workability, and quality of the concrete our customers receive. (281) 837-5300. Emile El Nems VP - Senior Credit Officer Corporate Finance Group Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. SRM acquires Sequatchie Concrete serving the East TN, North AL, and North GA markets. "We started here and now consider it our signature quarry for digging limestone that we use to make numerous things, like concrete and asphalt for road construction.". Access the headquarters listing for Smyrna Ready Mix Concrete, LLC. , 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. When it is time to replace or add new units, SRM Concrete has chosen to purchase all its machinery from Power Equipment's Nashville branch, a testament to the expertise of the dealership that a construction services company of SRM's size would rely so heavily upon it. Terms: latest-news-headlines 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). Through hard work and the grace of God, Smyrna Ready Mix grew. BBB Business Profiles generally cover a three-year reporting period. Market Intelligence (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. SRMs Komatsu PC490-11 excavator loads an HD325-8 40-ton quarry truck. 152.228.212.223 Having Ryan as president of one of SRM's major divisions, and his other son, Jeff, serve as both company CEO and the family member in charge of the ready-mix operations, has allowed Mike Hollingshead in 2021 to enjoy his status as founder and owner. Meritain Information (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice, SRM Acquires Young Trucking in Southwest Florida, SRM Acquires Titan Ready Mix in Covington, GA, SRM Acquires Darby Ready Mix in Southeast Michigan, SRM Acquires Clinton-Tecumseh Aggregates in Southeast Michigan, SRM Acquires 18 Argos ready-mix locations in NC and Florida, SRM Acquires 37 ready-mix locations in Colorado, Wyoming, and Texas, SRM Acquires Charley's Concrete in the DFW Market, SRM Acquires JJ's Concrete in Central Indiana, SRM Acquires Louisville-based Allstate Ready Mix, SRM Acquires Jones & Stone Drilling in Middle Tennessee, SRM Acquires Bowling Green Concrete in South Central Kentucky, SRM Acquires T&H Concrete Products in Lewisburg, TN, SRM Acquires Indiana Phoenix Mixer Company, Hollingshead Cement Opens Cement Terminal in Middletown, OH. Careers, Place An Order Bloomberg Chief Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. 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. JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Gretchen French Associate Managing Director Corporate Finance Group JOURNALISTS: 1 212 553 0376 Client Service: 1 212 553 1653 Releasing Office: Moody's Investors Service, Inc. 250 Greenwich Street New York, NY 10007 U.S.A. SRM acquires Kentucky based All-Rite Ready Mix and Tucker Ready Mix. Privacy Policy Contact Us Therefore, credit ratings assigned by MSFJ are Non-NRSRO Credit Ratings. As a matter of policy, BBB does not endorse any product, service or business. esgSubNav, Discover more about S&P Globals offerings, Global Credit and Risk Symposium: Unlocking Possibilities, pulled a proposed $315 million, seven-year term loan B, Non-call three (first call at par +50% coupon), JW Marriott Sao Paulo Av. At the same time, Moody's rating takes into consideration the company's vulnerability to cyclical end markets, the competitive nature of its ready-mix concrete business, its acquisitive growth strategy, and material revenue exposure to Tennessee and Florida.Moody's expects Smyrna to maintain very good liquidity over the next 12-18 months. Proceeds will be used to fund certain acquisitions, to refinance existing debt and for general corporate purposes. For Buyers: View Search History and Save Searches; Save Supplier Listings and Add Notes; Locations CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. 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. 2 and 3 respectively.MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY100,000 to approximately JPY550,000,000.MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements. SRM Concrete is pleased to announce the acquisition of USC-Atlantic, LLC, a subsidiary of U.S. Locations SRM acquires North Alabama based Keenum Concrete. In addition, SRM Concrete Pumping Services is strategically located in the Midwest, Mid-South, and Deep South, while in Nashville, Houston, Detroit and Panama City, Fla., another of its divisions offers harbor delivery services to customers that need their raw materials moved quickly and efficiently. Our website makes it easy to find the machines you need fast. Due to the bond offering's size increase, the issuer pulled a proposed $315 million, seven-year term loan B. Smyrna Ready Mix LLC is a provider of ready-mix concrete, aggregates, and other concrete-related products and services. The company also has been involved in many commercial jobs throughout its territories. 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. 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. SRM opens new plant in Punta Gorda, Florida. info@smyrnareadymix.com The headquarters for SRM Concrete are in 1000 Hollingshead Circle Smyrna, TN 37129. The asset based revolving credit facility, which expires in 2026, is governed by a springing fixed-charge coverage ratio of 1.0x, that comes into effect if availability under the asset based revolving credit facility is less than 15% of the total revolver availability.The stable outlook reflects Moody's expectation that Smyrna will grow revenue organically, maintain good operating performance, generate solid free cash flow, and remain committed to modest leverage. SRM 401(k) Profit Sharing Plan and Trust Annual Notice, 1000 Hollingshead Circle CEO, Jeff Hollingshead stated, "We are excited to . 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. SRM acquires Bayou Materials in Jackson, Alabama. SRM acquires 24 plants from Argos in the Dallas/Fort Worth market. This documentary-style series follows investigative journalists as they uncover the truth. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODYS PRIOR WRITTEN CONSENT.MOODYS CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.All information contained herein is obtained by MOODYS from sources believed by it to be accurate and reliable. Our Team Ryan Hollingshead (L), president of SRM Aggregates, and Mike Hollingshead, founder of SRM Concrete. SRM Concrete's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. Performance & security by Cloudflare. Careers, Place An Order Market Intelligence (MJKK) is a wholly-owned credit rating agency subsidiary of Moody's Group Japan G.K., which is wholly-owned by Moodys Overseas Holdings Inc., a wholly-owned subsidiary of MCO. That acquisition was just one of many that SRM Concrete made over the years as its coffers grew and it identified opportunities to move into new markets. Smyrna Ready Mix Concrete, LLC manufactures and supplies concrete products. Pro forma for the transaction, Smyrna's liquidity position is supported by roughly $15 million of cash, a $250 million asset based revolving credit facility, under which Moody's expects $210 million will remain available, and Moody's expectation that the company will generate around $150 million in free cash flow in 2022. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. Aggregate Equipment Guide is the best source for news, how-to's and equipment for the Aggregate Industry. SRM opens new plant in St. Augustine, Florida. About Us Meritain Information Privacy Policy SRM Concrete's presence, products, and services enable us to win in today's competitive marketplaces. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Credit Application 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. Delivering quality concrete with unmatched service, Supplying quality stone and materials for customers, Providing quality concrete construction products, Faster and more accurately in hard to reach places. Smyrna Ready Mix was founded for the purpose of providing superior customer service. info@smyrnareadymix.com "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. close alert. Please refer to Moody's Policy for Designating and Assigning Unsolicited Credit Ratings available on its website www.moodys.com.Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.Moody's general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1288235.At least one ESG consideration was material to the credit rating action(s) announced and described above.The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the EU and is endorsed by Moody's Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. Company Store MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. SRM acquires Cornerstone Ready Mix based in Augusta, Georgia. Mike and Melissa Hollingshead founded Smyrna Ready Mix and build first plant in backyard. /marketintelligence/en/news-insights/latest-news-headlines/smyrna-ready-mix-concrete-launches-315m-tlb-commitments-due-oct-29-60880910 2022 SRM Concrete, All Rights Reserved. Within six months of launching the company, other area concrete finishers began ordering. Company profile page for Smyrna Ready Mix Concrete LLC including stock price, company news, press releases, executives, board members, and contact information Our Team SMYRNA, TN - November 25th, 2022. (615) 355-1028 Making sure SRM Concrete follows safe practices within its various divisions is something that has proven to be a demanding task, considering the far-flung nature of the company, its vast number of employees and the type of work that is performed. "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. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. With very little money and three trucks, we built a concrete plant in our own backyard at 4500 Hickory Grove Road in Murfreesboro, Tenn. After meeting with the companys new team members, SRM Chairman, Mike Hollingshead stated, We are looking forward to building relationships with our new SRM team members and their families for years to come..
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