S&P lifts Hunter Fan, rates loan CCC

Standard & Poor's said it raised its issue-level ratings on Hunter Fan Co.'s proposed $125 million senior secured first-lien credit facilities due 2017 by one notch to B+ from B.

The agency said it also revised the recovery rating on this debt to 1 from 2. The agency said the recovery rating revision reflects the reduction of the company's proposed first-lien credit facilities, which S&P believes has improved the recovery prospects for this debt.

At the same time, S&P said it assigned a CCC issue-level rating to Hunter Fan's proposed $55 million senior secured second-lien term loan due 2018. The recovery rating is 6, indicating an expectation for negligible recovery in the event of a payment default.

The B- corporate credit rating on Hunter Fan Co. remains unchanged and the outlook remains positive.

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