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S&P: MRO Holdings, loan B+
S&P said it assigned a B+ corporate credit rating to MRO Holdings Inc. and assigned a B+ issue-level rating to the company's proposed $225 million first-lien term loan B due 2023.
The 3 recovery rating indicates an expectation for meaningful recovery (50%-70%; rounded estimate: 60%) in a default scenario.
The outlook is stable.
“Our ratings on MROH reflect the company's modest size, the limited scope of its operations and its high customer concentration,” the agency said in a news release.
“Our ratings also consider the company's position as the largest provider in the niche market for airframe maintenance, repair and overhaul services in the Americas, its low-cost facilities in Latin America, and its good margins.”
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