S&P rates Contech loan BB-

Standard & Poor's said it assigned a B corporate credit rating to Contech Holdings Inc.

The agency also said it assigned a BB- rating to Contech Engineered Solutions LLC's $150 million senior secured term loan B due 2019.

The recovery rating is 1, indicating 90% to 100% expected default recovery.

The outlook is stable.

Contech used the proceeds from the term facility to refinance existing indebtedness, S&P said.

The stable rating outlook reflects an expectation of improved operating performance driven by recovering residential and commercial construction spending, the agency said.

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