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S&P assigns B to DS Parent loans
S&P said it assigned B issue-level and 3 recovery ratings to DS Parent Inc.'s planned senior secured credit facilities, which comprise a $450 million term loan and a $100 million revolving credit facility. The 3 recovery rating indicates meaningful recovery (50%-70%; rounded estimate: 55%) if DS Parent defaults.
The agency said it B ratings on DS Parent and its outstanding loans are unchanged.
The company plans to use the term loan to refinance its debt and fund its acquisition of Extrusion Technology Group.
The outlook is stable.
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