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S&P gives TransDigm loan BB-
Standard & Poor's said it assigned its BB- rating and 2 recovery rating to TransDigm Inc.'s proposed $2.51 billion senior secured first-lien credit facility.
The facility consists of a $310 million revolver and $2.2 billion term loan, and the company plans to use the proceeds to refinance the existing credit facility.
S&P said the ratings on TransDigm reflect its well-established positions in niche markets for highly engineered aircraft components, efficient operations, very high profit margins, good product diversity, participation in the cyclical and competitive commercial aerospace industry, and "adequate" liquidity.
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