S&P rates Salton loan B

Standard & Poor's said it assigned a B corporate credit rating to Salton Inc.

The agency also assigned B issue and 4 recovery ratings its proposed $180 million senior secured term loan maturing 2013.

The outlook is stable.

Proceeds from the loan will be used to refinance existing debt of about $160 million.

"The ratings on Salton Inc. reflect the company's narrow business focus, participation in the highly competitive small appliance industry, customer concentration and leveraged financial profile," S&P analyst Rick Joy said in a statement.

The company benefits from its portfolio of well-recognized brands, leading positions in the kitchen appliance market and geographic diversification, the agency said.

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