S&P gives Atkore notes BB-

S&P assigned its BB- issue-level rating and 4 recovery rating to the Atkore Inc. proposed $400 million senior unsecured notes due 2031.

The 4 recovery rating indicates the expectation for average (30%-50%; rounded estimate: 30%) recovery in the event of a payment default.

The company plans to use the proceeds from these proposed notes, together with the proceeds from its recent term loan B financing, to fund the repayment of its approximately $772 million outstanding existing term loan facility.

Existing company ratings remain unchanged.

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