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S&P rates Olin notes BB-
S&P said it assigned its BB- issue-level and 4 recovery ratings to Olin Corp.’s proposed $500 million senior unsecured notes due 2025. The 4 recovery rating indicates S&P’s expectation for average (30%-50%; rounded estimate: 30%) recovery in the event of a payment default.
Proceeds will be used for general corporate purposes.
“Our BB- issuer credit rating, negative outlook, and existing BB+ secured and BB- unsecured issue-level ratings are unchanged,” S&P said in a press release.
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