S&P gives B+ to KMG Chemicals loan

S&P said it assigned its B corporate credit rating to KMG Chemicals Inc. The outlook is stable.

At the same time, S&P assigned a B+ issue-level rating (one notch above the corporate credit rating) to KMG Chemical's $600 million first-lien secured credit facilities. The recovery rating on this credit facility is 2, indicating an expectation of a substantial (70%-90%; rounded estimate: 70%) recovery in the event of payment default.

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