S&P: Royal Adhesives unchanged

Standard & Poor’s said the B rating and 3 recovery rating on Royal Adhesives & Sealant LLC’s first-lien term loan B is unchanged following news of its proposed add-on of up to $40 million.

This issuance will be an amendment to the company’s existing credit agreement and will be used to finance potential acquisitions, S&P said, as well as for fees and expenses associated with future transactions.

All of its other ratings, including the B corporate credit rating, are unchanged.

The outlook remains stable.

The ratings reflect the company’s weak business profile and highly leveraged financial risk profile, S&P said.

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