S&P: Tronox unchanged after add-on

Standard & Poor's said the BBB- rating and 1 recovery rating on the term loan issued by Tronox Pigments (Netherlands) BV remain unchanged following the company's $200 million increase in the proposed term loan to $1.5 billion.

All of its other ratings, including the BB corporate credit rating, remain unchanged.

The outlook remains stable.

Tronox, which is a subsidiary of Tronox Ltd., will use the proceeds to refinance its existing term loan and for general corporate purposes.

The 1 recovery rating on Tronox's proposed term loan indicates 90% to 100% expected default recovery.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.