S&P: Omnova unaffected

Standard & Poor's said its bank loan and recovery ratings on Omnova Solutions Inc. are unchanged following a recent amendment. The bank loan rating on Omnova's $150 million senior secured term loan facility is B+, the same as the corporate credit rating, with a recovery rating of 3.

Omnova increased the size of its asset-based revolving credit facility to $90 million from $80 million through an amendment dated Dec. 28. The amendment also allowed the company to use borrowings under the ABL for the purchase of the remaining equity interest in its Asian joint ventures. The $28 million transaction was completed on Jan. 7.

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