S&P rates Kaiser Aluminum notes BB+

S&P said it assigned a BB+ rating with a 4 recovery rating to Kaiser Aluminum Corp.’s planned $500 million senior unsecured notes due in 2028. The 4 recovery rating indicates S&P’s expectation of average (30%-50%; rounded estimate: 45%) recovery in the event of a payment default.

Proceeds will be used to repay $375 million in senior unsecured notes due 2024 and for general corporate purposes.

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