S&P rates Wolverine Intermediate notes CCC+

S&P said it assigned its CCC+ issue-level rating and 6 recovery rating to the proposed $100 million paid-in-kind unsecured notes due 2028 that will be sold by Wesco Aircraft Holdings Inc.’s holding company parent Wolverine Intermediate Holding Corp. and placed the rating on CreditWatch with negative implications. The 6 recovery rating indicates the expectation for negligible (0%-10%; rounded estimate: 0%) recovery in a default scenario.

S&P said the issue-level and recovery ratings on the company’s debt are not affected.

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