May 11 - Standard & Poor's Ratings Services said today that it assigned its 'CCC+' issue rating to Chicago-based NES Rentals Holdings Inc.'s proposed extended $83 million second-lien term loan. The proposed amendment extends the maturity to October 2014. The issue rating is two notches below our corporate credit rating on the company. The recovery is '6', indicating our expectation of negligible (0-10%) recovery in the event of a default scenario. The issue and recovery ratings are the same as our existing ratings on NES Rentals' term loan. (See the recovery report on NES Rentals to be published shortly after this release, on RatingsDirect.) The ratings on equipment rental provider NES reflect our assessment of the company's "weak" business risk profile and "highly leveraged" financial risk profile. We expect the company to maintain adequate liquidity as it purchases equipment in anticipation of improving conditions in the equipment rental industry. Although its credit measures are currently weak for the rating (about 6.3x total debt to EBITDA as of March 31, 2012), we believe that they will continue to improve in 2012 and that debt to EBITDA will be less than 6x by the end of the year. (For the complete corporate credit rating rationale, see our latest summary analysis on NES, on RatingsDirect.) RELATED CRITERIA AND RESEARCH -- Summary: NES Rentals Holdings Inc., April 26, 2012 -- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008 RATINGS LIST NES Rentals Holdings Inc. Corporate credit rating B/Stable/-- Rating Assigned $83 mil. second-lien term loan due 2014 CCC+ Recovery rating 6 Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.