S&P rates High Liner loan B, shifts view to stable.

S&P said it assigned a B rating with a recovery rating of 3 to High Liner Foods Inc.’s proposed $300 million secured term loan B, the proceeds of which will be used to refinance existing debt.

S&P also affirmed High Liner’s B rating.

The agency revised its outlook on High Liner to stable from negative.

“The outlook revision reflects our favorable view of the initiatives the company has taken to reduce costs, as well as to drive efficiencies, profitability, and strengthen its balance sheet,” said S&P in a press release.

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