S&P rates Vantage loans B

Standard & Poor's said it assigned its B corporate credit rating to Vantage Specialty Chemicals Inc. The outlook is stable.

At the same time, the agency said it assigned its B issue ratings and 3 recovery ratings to subsidiary Vantage Specialties Inc.'s and Vantage Oleochemicals Inc.'s $60 million revolving credit facility and $240 million senior secured term loan. The 3 recovery rating indicates an expectation of a meaningful recovery.

"The ratings reflect Vantage's leading positions in a niche market for oleochemicals and specialty derivatives, which its very aggressive financial policies offset," S&P credit analyst Paul Kurias said in a news release.

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