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S&P rates Axiall loan BBB-
Standard & Poor’s said it assigned a BBB- rating and 1 recovery rating to Axiall Corp.’s proposed $250 million term loan due 2022.
The borrower is Axiall Holdco, a subsidiary of Axiall.
The 1 recovery rating indicates 90% to 100% expected default recovery.
The proceeds will be used to refinance its existing term loan due in 2017.
All existing ratings on Axiall, including its BB corporate credit rating, are unchanged.
The outlook is stable.
The ratings reflect Axiall’s fair business profile and significant financial risk profile, S&P said.
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