S&P applies B+ to Acision loan

Standard & Poor's said it assigned its B long-term corporate credit rating to Acision BV.

The outlook is positive.

At the same time, the agency assigned its B+ issue rating to the company's $160 million senior secured loan. The recovery rating is 2.

S&P said the rating reflects its view of Acision's business risk profile as "weak" and financial risk profile as "aggressive."

Acision has completed the issuance of $160 million of senior secured loans and will use the proceeds to refinance existing loans maturing in 2015. As part of this transaction, the company's investors are also amending existing shareholder loans to be subordinated to all the debt and to mature six months after the company's senior debt.

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