S&P assigns BBB to Crane revolver

Standard & Poor's said it assigned its BBB issue-level rating (the same as the corporate credit rating) to Crane Co.'s $500 million senior unsecured revolving credit facility.

All other ratings, including the BBB corporate credit rating, remain unchanged.

The outlook is stable.

S&P said the ratings reflect Crane’s "satisfactory" business risk profile as a diversified manufacturer of engineered industrial products. The company had $2.9 billion sales for the 12 months ended March 31, 2015 across its four operating segments – fluid handling, payment and merchandising, aerospace and electronics and engineered materials.

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