S&P rates Minerals loans BB

Standard & Poor’s said it assigned a BB rating to Minerals Technologies Inc.’s $1.078 billion term loan B-1, along with a BB rating to its $300 million term loan B-2.

S&P said it expects no increase in total debt as a result of this transaction, which split the outstanding amount under the existing term loan B into two separate tranches.

The recovery ratings remain unchanged.

The ratings reflect the company’s aggressive financial risk profile and fair business risk profile, the agency said.

The company has a corporate credit rating of BB-.

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