S&P rates Cyanco loans B+

Standard & Poor's said it assigned a B corporate credit rating to Cyanco Intermediate Corp.

The outlook is stable.

In addition, S&P assigned a B+ issue-level rating and 2 recovery rating to Cyanco's proposed $15 million senior secured revolving credit facility maturing in 2018 and $400 million senior secured term loan maturing in 2020, based on preliminary terms and conditions.

"The ratings on Cyanco Intermediate Corp. reflect our assessment of the company's business risk profile as vulnerable, according to our criteria, considering its narrow focus as a producer of sodium cyanide used by the gold mining industry and its highly leveraged financial risk profile," S&P credit analyst Liley Mehta said in a news release.

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