S&P gives Darling loan BBB-

S&P said it assigned a BBB- issue-level rating to Darling Ingredients Inc.'s proposed $525 million seven-year term loan B maturing 2024.

The recovery rating is 1, indicating a very high recovery (90%-100%; rounded estimate: 90%) in the event of a payment default.

The agency said the ratings on Darling reflect a belief that the company will continue to prioritize debt repayment and reduce leverage, including debt to EBITDA approaching the low-3x area over the next 12 months.

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