S&P gives Fort Dearborn, loan B-

Standard & Poor's said it assigned its B- corporate credit rating to Fort Dearborn Co.

The outlook is stable.

At the same time, the agency said it assigned a B- bank loan rating and a recovery rating of 2 to the company's proposed $105 million senior secured credit facilities.

The ratings reflect Fort Dearborn's vulnerable business risk profile incorporating its relatively narrow scope of operations in the highly fragmented labels segment of the packaging industry, meaningful customer concentration and risks associated with an acquisitive growth strategy and a highly leveraged financial profile, the agency added.

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