S&P rates Entegris notes BB+

S&P said it rated Entegris Inc.’s expected $1 billion of senior secured notes due 2029 BB+ with a 3 recovery rating. The 3 recovery rating indicates an expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in default.

Entegris’ BB+ issuer rating and stable outlook are unchanged.

The company plans to use the proceeds as part of its previously reported acquisition of CMC Materials Inc.

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