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S&P rates EnerSys notes BB+
S&P said it assigned its BB+ issue-level rating and 4 recovery rating to EnerSys’ proposed $300 million senior unsecured notes due 2027. The 4 recovery rating indicates S&P’s expectation for average (30%-50%; rounded estimate: 30%) recovery in the event of a payment default.
The company will use the net proceeds to repay borrowings under its revolving credit facility.
The issuer credit rating on EnerSys remains BB+ with a stable outlook, S&P said.
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