S&P assigns B to Trinseo loan

S&P said it assigned B issue-level and 1 recovery ratings to Trinseo NA Finance SPV LLC's $1.077 billion first-lien senior secured term loan. The issuer is a debt-issuing subsidiary of Trinseo plc.

Trinseo plc’s ratings, including the CCC+ issuer rating, are unchanged.

The company will use the proceeds to refinance its term loan September 2024 and $385 million of its $500 million of senior notes due September 2025. The term loan and the senior notes were co-issued by subsidiaries Trinseo Materials Operating SCA and Trinseo Materials Finance Inc.

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