S&P lowers MRC Global view to negative

S&P said it affirmed the B corporate credit rating on MRC Global (US) Inc. and revised its outlook to negative from stable.

The agency also said it affirmed the B rating on MRC's senior secured term loan.

The recovery rating remains at 3, indicating 50% to 70% expected default recovery.

The negative outlook considers the possibility that the agency could downgrade the ratings as the maturity of the company's senior secured term loan due November 2019 approaches in less than two years, S&P explained.

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