S&P lowers Mauser, withdraws ratings

S&P said it lowered the corporate credit rating on Mauser Holding Sarl to B- from B and removed the ratings from CreditWatch, where they were placed with negative implications in February.

The agency said it subsequently withdrew the corporate credit rating on Mauser.

The outlook was stable at the time of the withdrawal.

S&P also said it withdrew the B rating on Mauser's €150 million revolving credit facility, its €50 million acquisition facility, the $420 million and €537 million first-lien term loans, as well as the CCC+ rating on the $402 million second-lien term loan.

Following the completion of Mauser's acquisition by BWAY Holding Co., S&P also said it lowered the rating on Mauser to align it with that on the group's new parent.

As a result of the change of control, Mauser's revolving facilities and term loans have been called and fully redeemed, S&P explained.

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