S&P rates MidOcean Hunter loans B

S&P said it assigned a B issuer credit rating to MidOcean Hunter Holdings Inc.; for analytical purposes, S&P said it views MidOcean Hunter Holdings Inc and Hunter Fan Co. as one economic entity.

S&P said it also assigned a B rating and 3 recovery rating to the proposed senior secured first-lien credit facilities.

MidOcean Hunter Holdings, a manufacturer of consumer and commercial ceiling fans and lighting, is issuing $458 million in senior secured first-lien credit facilities comprised of a $33 million cash flow revolver and a $425 million first-lien term loan under its operating subsidiary, Hunter Fan, S&P noted.

The outlook is stable.

“The ratings on MidOcean reflect Hunter Fan's small scale and narrow focus in the consumer, industrial, and commercial fans industry,” S&P said in a news release.

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