S&P rates MTS Systems loans BB-

S&P said it assigned a BB- corporate credit rating to MTS Systems Corp., along with BB- ratings and 3 recovery ratings to its proposed $100 million senior secured first-lien revolving credit facility and $460 million senior secured first-lien term loan B.

The 3 recovery ratings indicate 50% to 70% expected default recovery.

The outlook is stable.

The company's two business lines, test and sensors, account for about 82% and 18% of its total revenue, respectively, S&P said.

The stable outlook reflects an expectation that the company's top-line growth will track real GDP growth in the United States, Europe and Asia-Pacific regions, the agency said.

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