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Avantor Performance Materials Holdings Term Loan Assigned 'BB-' Issue, '2' Recovery Rating; 'B+' Issuer Rating Affirmed Jun 11
Standard & Poors, June 2011
Abstract
Specialty chemical company Avantor Performance Materials Holdings S.A. is issuing a $185 million first-lien term loan. The company plans to use the proceeds to refinance its outstanding first-lien term loan. We are assigning an issue-level rating of 'BB-' and a recovery rating of '2' to the $185 million term loan. The borrower is a wholly owned subsidiary, Avantor Performance Materials Holdings Inc. At the same time, we are affirming our 'B+' corporate credit rating on Avantor Performance Materials Holdings S.A. The stable outlook indicates our expectations for Avantor's successful integration of recent acquisitions, continued steady operating performance, and prudent growth plans so that the financial profile gradually improves. NEW YORK (Standard & Poor's) June 8, 2011--Standard & Poor's Ratings Services...
Companies mentioned in this report are: Avantor Performance Materials Holdings S.A.,Avantor Performance Materials Holdings Inc.
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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