S&P gives Cooper loan BBB-

Standard & Poor's said it assigned its BBB- issue-level rating to Cooper Cos., Inc.'s senior unsecured credit facility, which consists of a new $700 million senior unsecured term loan due 2017 and an existing $300 million senior unsecured term loan due 2018.

The company also has a $1 billion revolving credit facility due 2017.

Proceeds will be used to partially finance Cooper's $1.2 billion acquisition of Sauflon Pharmaceutical Ltd.

S&P said the BBB- corporate credit rating and negative outlook on Cooper reflect its assessment of the company's business risk profile as "fair" and financial risk profile as "modest."

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