S&P gives AMG, facilities BB-

S&P said it assigned its BB- corporate credit rating to AMG Advanced Metallurgical Group NV.

The outlook is stable.

At the same time, the agency assigned a BB- issue-level rating to the company's proposed $300 million senior secured term loan B due 2025 and $200 million revolving credit facility due 2023.

The recovery rating on both issues is 3, indicating an expectation of meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default.

S&P said the corporate credit rating reflects AMG's exposure to the highly competitive specialty metals market and related price volatility, somewhat offset by a generally solid position in its niche markets.

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