S&P assigns Kemet, notes B

Standard & Poor's said it assigned its B corporate credit rating to Kemet Corp.

The outlook is stable.

At the same time, the agency said it assigned its B rating and 4 recovery rating to the company's proposed issue of $225 million of senior notes due 2018.

Proceeds from sale of the new notes will be used to repay the majority of the company's existing debt, the agency said.

"The ratings reflect highly competitive market conditions, the company's modest scope in several of its served markets, a history of unprofitable operations, and limited liquidity," said S&P credit analyst Bruce Hyman.

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