S&P rates Koppers notes B

Standard & Poor's said it assigned its B issue-level rating to Koppers Inc.'s proposed $300 million unsecured senior notes due 2019, with a recovery rating of 5.

S&P said it also affirmed its B+ corporate credit ratings on both Koppers and its parent company, Koppers Holdings Inc.

The outlook remains stable.

Koppers will use proceeds from the proposed notes to pay down outstanding amounts under the revolver and to tender for the holding company's existing $203 million senior discount notes.

S&P said it expects that the company will be able to preserve its financial profile despite near-term operating challenges.

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