S&P revises EnPro note recovery rating

S&P said it revised the recovery rating on EnPro Industries Inc.’s $350 million senior unsecured notes to 4 from 3.

The agency cited the increased amount of secured debt in the capital structure for the revision.

S&P affirmed all its ratings for EnPro, which has agreed to acquire LeanTeq Co. and completed the purchase of the Aseptic Group on July 2.

“We view these transactions as consistent with EnPro’s capital allocation strategy,” S&P said in a press release.

The outlook is stable.

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