S&P assigns B+, B- to Rite Aid loans

Standard & Poor's said it assigned its B+ issue rating and 1 recovery rating to Rite Aid Corp.'s proposed $900 million first-lien term loan due 2020 and assigned a B- issue rating and 3 recovery rating to the company's proposed $470 million second-lien term loan due 2020.

At the same time, S&P affirmed all existing ratings on Rite Aid, including the B- corporate credit rating.

"The ratings on Rite Aid reflect its 'weak' business risk profile and 'highly leveraged' financial risk profile," said S&P credit analyst Ana Lai in a news release.

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