S&P rates Norit Holding

Standard & Poor's said it assigned its B+ corporate credit rating to Norit Holding BV. The outlook is stable.

At the same time, S&P assigned its BB- issue ratings and 2 recovery ratings to the company's $50 million revolving credit facility and its $260 million and €75 million first-lien senior secured term loans. The 2 recovery ratings indicate S&P's expectation for substantial recovery in the event of a payment default, the agency said.

"The ratings on Norit reflect the company's fair business risk profile, including its leading positions in a value-added global niche for activated carbon," said S&P credit analyst Paul Kurias in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.