S&P rates MB Aerospace, facilities B

S&P said it assigned a preliminary B long-term corporate credit rating to MB Aerospace Holdings II Corp.

The outlook is stable.

At the same time, the agency assigned a preliminary B issue rating to the proposed $255 million first-lien term loan due in 2024 and $50 million revolving credit facility due in 2022. The 3 recovery rating reflects expectations of meaningful (50%-70%; rounded estimate 60%) recovery in the event of payment default.

S&P said the rating on MB is supported by the company's business position as a maker of aero-engine components for leading global engine manufacturers.

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