S&P rates Outerstuff loans B+, BB

Standard & Poor's said it assigned its B+ corporate credit rating to Outerstuff LLC.

The outlook is stable.

The agency also assigned its B+ issue rating (same as the corporate credit rating) to the company's $155 million first-lien facility with a recovery rating of 3.

At the same time, S&P assigned its BB issue rating (two notches above the corporate credit rating) to the company's $100 million asset-based revolver with a recovery rating of 1.

"Our ratings on Outerstuff reflect our view that the company's leverage increased due to the sale of approximately 50% of the company to private equity funds affiliated with Blackstone," S&P credit analyst Jacqueline Hui said in a news release.

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