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S&P rates Advanced Drainage loan BB, notes B
S&P said it assigned a BB rating to Advanced Drainage Systems Inc.’s proposed $1.5 billion loan facilities and a B rating to its proposed $350 million of senior unsecured notes due 2027.
The recovery rating on the senior secured loan is 2, and the recovery rating on the notes is 6.
Thea agency assigned a BB- rating to the company.
The outlook is stable.
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