S&P rates Herff Jones loan BB-

Standard & Poor's said it assigned a corporate credit rating of B+ to Herff Jones Inc.

The agency said it also assigned a preliminary rating of BB- to the company's proposed $550 million senior secured term loan and $150 million senior secured revolver with a preliminary recovery rating of 2, indicating 70% to 90% expected default recovery.

The outlook is stable.

The ratings reflect the company's leadership position in fragmented and competitive market, S&P said, as well as its aggressive financial profile.

Its business risk profile is considered weak due to its acquisitive growth strategy and integration risks of recent large acquisitions, the agency said.

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