S&P rates Hunt Cos. notes BB-

S&P said it assigned its BB- issuer credit rating to Hunt Cos. Inc. The outlook is stable.

S&P also assigned a BB- issue rating on Hunt's new $550 million senior secured notes. The recovery rating on the notes is 4, reflecting an expectation for average recovery (35%) in a default scenario.

The agency also assigned a rating of BB- to Hunt's existing senior secured notes. The recovery rating on the existing notes is 4, reflecting an expectation for average recovery (35%) in a default scenario.

“Our ratings on Hunt reflects the company's leverage, potential volatility associated with asset sales and capital redeployment, and operational risk arising from the company's organizational structure,” S&P said in a news release.

“Countering these weaknesses is the company's growing market position in select segments and earnings contribution from multiple business lines.”

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