S&P gives Koppers loan BB-

S&P said it gave BB- issue-level and 2 recovery ratings to Koppers Holdings Inc.'s planned $400 million senior secured term loan B due 2030. The 2 recovery rating indicates significant (70%-90%; rounded estimate: 75%) recovery in default.

The ratings are the same as S&P’s on Koppers’ outstanding $400 million term loan.

The company is expected to use the proceeds along with borrowings from its revolver to redeem the outstanding $500 million of its senior unsecured notes due 2025.

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