DBRS assigns Kruger BB, notes B

DBRS said it assigned a BB issuer rating with a negative trend to Kruger Products Inc. a rating of B (high) to the company’s senior unsecured notes with an RR6 recovery rating.

On Jan. 1, Kruger through a corporate reorganization, bought and assumed from its parent company, Kruger Products LP (KPLP), all of its properties, operations, assets, and liabilities. KPLP was subsequently dissolved. Consequently, DBRS said it gave KPLP’s issuer rating and senior unsecured notes rating to Kruger Products, and discontinued KPLP’s ratings.

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