S&P rates Imperial Dade loans B, CCC+

S&P said it assigned a B issuer credit rating to BCPE Empire Holdings Inc., which does business as Imperial Dade.

S&P also assigned a B issue-level and 3 recovery ratings to the company's first-lien facility, and assigned a CCC+ issue-level rating and 6 recovery rating to the second-lien term loan. The ABL facility is unrated.

The outlook is stable.

“Our rating on Imperial Dade reflects its relatively narrow scope of products and services, limited geographic diversification, and aggressive, acquisition-driven growth strategy. It also considers its increasing scale and relatively stable end-market demand, including somewhat nondiscretionary products and exposure to noncyclical end markets,” S&P said in a news release.

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