S&P rates Minerals Technologies loans BB

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

The outlook is stable.

At the same time, the agency assigned a senior secured debt rating of BB (one notch above the corporate credit rating) and a recovery rating of 2 to Mineral Technologies’ $200 million revolving credit facility due 2019 and $1.56 billion term loan due 2021.

"Our BB- rating on MTI is derived from our anchor of bb-, based on our assessment of its 'fair' business risk profile and 'aggressive' financial risk profile," S&P credit analyst Cynthia Werneth said in a news release.

All modifiers are neutral for the rating.

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