S&P: Triple Point loans B+

Standard & Poor's said it assigned its B+ issue-level rating and 2 recovery rating to Triple Point Technology Inc.'s $165 million term loan due 2017 and its $20 million revolving credit facility due 2016.

The 2 recovery rating indicates an expectation of substantial recovery in the event of payment default.

"The ratings on Triple Point reflect its 'weak' business risk profile marked by its narrow market focus and limited track record operating at current levels," said S&P credit analyst Christian Frank in a news release.

The agency said the company's highly leveraged financial profile reflects its pro forma leverage in the low-6x area and an acquisitive growth strategy.

The outlook is stable.

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