S&P rates Flint loans B+, B-

Standard & Poor’s said it assigned a B+ long-term corporate credit rating to Flint Group (ColourOZ Holdco Sarl).

The outlook is stable.

S&P also said it assigned a B+ rating with a recovery rating of 3 to the €150 million multi-currency revolving facility, as well as to the euro- and dollar-denominated €1.25 billion first lien term loan tranches B1, B2 and C.

The agency also said it assigned a B- rating with a recovery rating of 6 to the €300 million second-lien term loan, which is euro- and dollar-denominated.

These ratings are in line with the preliminary ratings assigned in April 2014,

The ratings reflect the group’s leverage profile now that Goldman Sachs Merchant Banking and Koch Equity Development LLC, a subsidiary of Koch Industries Inc., each acquired 50% of Flint’s share capital, S&P said.

The ratings also consider its fair business risk profile and its highly leveraged financial risk profile, the agency said.

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