S&P assigns B to Mercer notes

S&P said it assigned B issue-level and 4 recovery ratings to Mercer International Inc.’s planned $200 million of senior unsecured notes due 2028. The 4 recovery rating on the notes indicates average (30%-50%; rounded estimate: 30%) recovery in default.

All other ratings on Mercer are unchanged, including the B long-term issuer rating

The proceeds are expected to be used for general corporate purposes, including the partial repayment of the amount drawn under the company's credit facilities.

The outlook is negative.

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