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S&P rates Entegris notes BB
S&P said it rated Entegris Inc.’s expected sale of $895 million of senior unsecured notes due 2030 BB with a 5 recovery rating. The 5 recovery rating indicates modest (10%-30%; rounded estimate: 20%) recovery in default.
Entegris plans to use the proceeds to help finance its purchase of CMC Materials Inc.
The company’s BB+ issuer rating and stable outlook are unchanged, S&P said.
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