S&P rates Olin notes BB

S&P said it assigned a BB issue-level rating to Olin Corp.'s proposed $500 million senior unsecured notes due 2030.

The 3 recovery rating indicates an expectation of meaningful (50% to 70%; rounded estimate: 55%) recovery for lenders in the event of a payment default.

The proceeds will be used to pay down existing term loans.

The BB issue-level and 3 recovery ratings on the company's existing debt are unchanged.

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