S&P rates LMI Aerospace loans B+

Standard & Poor's said it assigned a B+ corporate credit rating to LMI Aerospace Inc.

The outlook is stable.

At the same time, S&P assigned a B+ issue rating and 3 recovery rating to the proposed $325 million secured first-lien credit facility, which consists of a $100 million revolver and a $225 million term loan.

"The ratings on LMI reflect our expectations that leverage will improve steadily over the next 12 months because of earnings growth and some debt reduction from free cash flow," S&P credit analyst Christopher DeNicolo said in a news release.

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