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Fitch rates W.R. Grace loan BBB-
Fitch Ratings said it assigned BBB-/RR1 ratings to W.R. Grace & Co.- Conn’s new $300 million incremental term loan.
Proceeds with $270 million in preferred equity will be used to fund the acquisition of Albemarle Corp.’s fine chemistry services business.
Concurrently, Fitch affirmed the BB+ issuer and BB+/RR4 unsecured ratings of W.R. Grace & Co. and W.R. Grace & Co. – Conn. The agency also affirmed the BBB-/RR1 ratings on its secured debt.
The outlook is negative.
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