S&P: Nexeo loan unaffected

Standard & Poor's said its B issue-level and 5 recovery ratings on Nexeo Solutions LLC's term loan remain unchanged following the company's proposal to increase the term loan to $525 million from $325 million.

All other ratings on Nexeo, including the B+ corporate credit rating, also remain unchanged. The outlook is stable.

Nexeo will use the proceeds to repay outstanding borrowings under its asset-based revolving credit facility and for general corporate purposes.

The 5 recovery rating on Nexeo's term loan indicates an expectation of a modest recovery in the event of a payment default.

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