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S&P gives Wesco Aircraft B+, loans B+, B-
Standard & Poor's said it assigned its B+ corporate credit rating to Wesco Aircraft Hardware Corp.
The outlook is stable.
At the same time, S&P said it assigned its B+ bank loan rating and 2 recovery rating to the company's proposed $510 million first-lien credit facilities, consisting of a $75 million senior secured revolving credit facility and a $435 million senior secured term loan.
The agency said it also assigned its B- bank loan rating and 5 recovery rating to the firm's proposed $165 million senior secured second-lien term loan.
According to S&P, the corporate credit rating on Wesco reflects high debt leverage, weak cash flow protection measures, modest scale of operations and risks associated with cyclical demand for commercial aircraft, the company's largest end market.
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