S&P gives H.B. Fuller loans BBB

Standard & Poor's said it revised its outlook on H.B. Fuller Co. to negative from stable.

At the same time, the agency assigned its BBB issue-level ratings to the company's $300 million unsecured revolving credit facility and $300 million term loan A.

Fuller’s BBB corporate credit rating was affirmed.

The company recently issued the new debt to fund the acquisition of Tonsan, refinance existing indebtedness, and pay transaction fees and expenses. S&P expects that the acquisition will close in the first quarter of fiscal 2015.

"The rating action reflects the potential for a modestly lower rating if the company is unable to remedy some of the operating issues it has experienced in recent quarters," S&P credit analyst Daniel Krauss said in a news release.

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