S&P: Babcock & Wilcox loan BBB

Standard & Poor's said it assigned its BBB issue rating to Babcock & Wilcox Co.'s proposed $700 million revolving credit facility due 2017. The issue rating is two notches above the BB+ corporate credit rating on the company.

The recovery rating is 1, reflecting an expectation that lenders would receive very high recovery in a payment default.

S&P said its ratings on Babcock & Wilcox reflect the company's significant financial risk profile and fair business risk profile. The agency said it believes the company's low adjusted debt balances and good credit metrics support the rating and stable outlook.

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