S&P rates Veyance loans B, B+, B-

Standard & Poor's said it assigned its B corporate credit rating to Veyance Technologies Inc.

The outlook is stable.

At the same time, S&P assigned a B issue-level rating to the company's proposed senior secured debt, which includes a $75 million revolver and $1,125,000,000 term loan. The recovery rating is 3.

The agency also assigned ratings to the company's existing credit facilities. It assigned a B+ to the $925 million first-lien debt, which includes a $75 million revolver and a B- to the company's $360 million second-lien term loan.

S&P said the ratings on Veyance reflect its assessment of the company's business risk profile as "weak," characterized by its presence in competitive and cyclical markets modestly offset by its leading market position and financial risk profile as "highly leveraged."

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