S&P rates TricorBraun, loan B

Standard & Poor's said it assigned a B corporate credit rating to TricorBraun Inc. The outlook is stable.

At the same time, the agency said it assigned a B issue-level rating and a 4 recovery rating to TricorBraun's proposed $75 million revolving credit facility due 2018 and $480 million term loan B due 2018. The recovery rating indicates an expectation of average recovery in the event of a payment default.

"The ratings on TricorBraun reflect its highly leveraged financial risk profile, supplier concentration and the fragmented and highly competitive structure of the rigid-plastic packaging industry," said S&P credit analyst Henry Fukuchi in a news release.

The ratings also reflect gradually improving operating trends, which should continue to support an improving financial risk profile in the next few years, S&P said.

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