S&P rates DS Parent, loans B

S&P said it gave B ratings to DS Parent Inc. and its senior secured credit facilities. The recovery rating on the $285 million term loan B and $55 million cash revolver, expected to be undrawn at close, is 3.

Gamut Capital Management LP agreed to acquire DS Parent.

“Our B issuer credit rating on DS Parent reflects the company's small scale and scope of its operations; however, it is supported by its recurring revenue base, asset-light business model, and decent geographic and end market diversity. The scope of DS Parent's operations is limited given its focus on polymer equipment solutions and aftermarket sales to packaging and infrastructure end markets. The company's revenue base is similar to that of most capital goods companies we rate in the B category,” S&P said in a press release.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.