S&P rates Ferrara Candy loan B

Standard & Poor's said it assigned its B corporate credit rating to Ferrara Candy Co., a company formed through the June merger of Farley's & Sathers Candy Co. Inc. and Ferrara Pan Candy Co. Inc. The outlook is stable.

At the same time, the agency said it assigned its B issue-level rating to Ferrara's $425 million senior secured term loan facility. The recovery rating is 4, indicating an expectation for average recovery in the event of a payment default.

The agency said the ratings on Ferrara reflect S&P's assessment of the company's financial risk profile as highly leveraged and its business risk profile as vulnerable.

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