S&P assigns Stiefel B+, loans B+, B-

Standard & Poor's said it assigned its B+ corporate credit rating to Stiefel Laboratories Inc.

The outlook is positive.

At the same time, S&P said it assigned its loan and recovery ratings to Stiefel's $735 million senior secured first-lien credit facility, consisting of a $75 million revolver maturing in 2012 and a $660 million term loan maturing in 2013.

The loan is rated B+ with a recovery rating of 2, the agency said adding that Stiefel's $150 million senior secured second-lien term loan was rated B- with a recovery rating of 5.

The agency said that Stiefel Laboratories holds a well-established position in the niche market for dermatological treatments and has a diverse product portfolio.

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