S&P rates Post notes B+

Standard & Poor's said it assigned its preliminary B+ issue level rating to Post Holdings Inc.'s proposed $775 million senior unsecured notes due 2022. The preliminary recovery rating is 4, indicating an expectation for average recovery in the event of a payment default.

"The ratings on Post reflect our opinion of its aggressive financial risk profile and weak business risk profile," said S&P credit analyst Bea Chiem in a news release.

"We estimate that the stand-alone company will have significant debt obligations following the spin-off," she said.

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