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S&P gives W.R. Grace facilities BBB-
Standard & Poor's said it assigned a BBB- corporate credit rating to W.R. Grace & Co.
The outlook is stable.
At the same time, the agency assigned BBB- issue ratings (the same as the corporate credit rating) to subsidiaries W.R. Grace & Co.-Conn and W.R. Grace GmbH and Co. KG's senior secured credit facilities.
These facilities consist of a $250 million five-year U.S. revolving credit facility; a $150 million five-year multicurrency revolving credit facility; a $700 million seven-year term loan B; a €150 million seven-year term loan B; and a $250 million seven-year delayed-draw term loan B.
"The ratings reflect what we consider to be Grace's 'satisfactory' business risk profile and 'intermediate' financial risk profile as defined in our criteria," S&P credit analyst Cynthia Werneth said in a news release.
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