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S&P rates Arinc loans B+, CCC+
Standard & Poor's said it assigned Arinc Inc.'s (B corporate credit rating) $575 million first-lien credit facility a rating of B+ and $195 million second-lien credit facility a rating of CCC+.
The outlook is stable.
Proceeds were used to help finance the acquisition of the company by the Carlyle Group.
"The rating reflects its weak credit protection measures as a result of very high debt leverage following the acquisition by Carlyle, which more than offset the company's leading position in niche markets and adequate profitability and liquidity," credit analyst Christopher DeNicolo said in a written statement.
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