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S&P rates Milacron, loan B
Standard & Poor's said it assigned a preliminary B corporate credit rating to Milacron Holdings Inc. and preliminary B rating to Milacron LLC's proposed $140 million senior secured term loan due 2017.
The preliminary recovery rating is 3, indicating 50% to 70% expected recovery in a default.
The outlook is stable.
The ratings reflect the highly competitive and cyclical nature of the plastics-processing machinery industry in which the company operates, S&P said, as well as the company's weak, though recently improved, margin profile.
Positive demand trends should enable the company to gradually improve its financial metrics following its proposed return of capital to its shareholders, the agency said.
The company's business risk profile is vulnerable, despite its well-established market position in North America and India, S&P said.
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