S&P: Avantor B+, loans BB-

Standard & Poor's said it assigned a B+ corporate credit rating to Avantor Performance Materials Holdings SA, along with BB- senior secured debt ratings and recovery ratings of 2 to the $35 million five-year revolving credit facility maturing in 2015 and $145 million term loan maturing in 2016 of Avantor Performance Materials Holdings Inc., its wholly owned subsidiary.

The 2 recovery rating reflects 70% to 90% expected recovery in default.

The outlook is stable.

The ratings reflect the company's weak business risk profile and an aggressive financial risk profile, S&P said.

Its weak business risk profile considers its limited business diversity, customer concentration and risks associated with becoming a stand-alone company, S&P said.

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