S&P gives Minerals Technologies loans BB

Standard & Poor's said it assigned its preliminary BB- corporate credit rating to Minerals Technologies Inc.

The outlook is stable.

At the same time, based on preliminary terms and conditions, the agency assigned a preliminary senior secured debt rating of BB (one notch above the corporate credit rating) and a preliminary recovery rating of 2 to Minerals Technologies' proposed five-year $200 million revolving credit facility and seven-year $1.56 billion term loan.

S&P expects to assign final ratings after the transaction closes.

"The ratings on MTI reflect our assessment of its 'fair' business risk profile and 'aggressive' financial risk profile," S&P credit analyst Cynthia Werneth said in a news release.

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