S&P: Jarden convertibles B

Standard & Poor's said it assigned a B rating with recovery rating of 6 to Jarden Corp.'s proposed $250 million senior subordinated convertible notes due 2019.

The rating is two notches below the BB- corporate credit rating on the company.

The proceeds from the proposed note offering will be used for general corporate purposes.

The BB- corporate credit rating on Jarden reflects its fair business risk profile and aggressive financial risk profile, S&P said.

Key credit factors include Jarden's diversified business portfolio, well-recognized brand names, good market positions in numerous household product categories and participation in several highly competitive businesses, the agency said.

Jarden's leveraged financial profile, strong liquidity and active acquisition strategy also factor into the ratings, S&P said.

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