S&P rates Olin shelf BB+, BB-

Standard & Poor's said it assigned its preliminary BB+ senior debt and BB- subordinated debt ratings to the new shelf registration filed Dec. 12 by Olin Corp. (BB+/stable).

According to the agency, the shelf registration covers an indeterminate amount of senior and subordinated debt securities, preferred stock, common stock, and warrants.

Proceeds from future drawdowns may be used for general corporate purposes, including additions to working capital, capital expenditures, stock repurchases, repayment of indebtedness, and acquisitions, the agency added.

"Although Olin's shelf registration has been refreshed, the agency said it anticipates that the company will prudently manage its use of leverage in order to continue to support its current ratings," said S&P credit analyst James T. Siahaan.

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