S&P assigns B- to Chromaflo

S&P said it assigned a B- corporate credit rating to ASP Chromaflo Holdings LP.

The outlook is stable.

The agency also affirmed and subsequently withdrew the B- corporate credit rating on ASP Chromaflo Holdings II LP.

S&P also affirmed the B issue-level ratings on ASP Chromaflo Intermediate Holdings Inc.'s and ASP Chromaflo Dutch I BV’s first-lien term loan and credit facility. The recovery rating remains 2, indicating expectations for substantial (70%-90%; rounded estimate: 70%) recovery in the event of payment default.

The agency affirmed the CCC issue-level ratings on ASP Chromaflo Holdings Intermediate’s second-lien term loan. The recovery rating remains 6, indicating expectations for negligible (0%-10%; rounded estimate: 0%) recovery.

S&P said ASP Chromaflo Holdings is consolidating and reporting financial results for the Chromaflo group, and there is no change to the underlying business, capital structure or financials as a result of the revised filing organization.

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