NEW YORK (Standard & Poor’s) July 29, 2014–Standard & Poor’s Ratings Servicessaid today that it assigned its ‘B+’ corporate credit rating toPennsylvania-based specialty fastener manufacturer and distributor PennEngineering & Manufacturing Corp. The outlook is stable.
At the same time, we assigned our ‘BB’ issue-level rating to the company’sproposed $645 million senior secured credit facility, which consists of a $75million revolving credit facility due 2019 and a $570 million senior securedterm loan (composed of a $220 million tranche and a $350 million-equivalent(…)
via Penn Engineering Manufacturing Corp. Is Assigned #B+# Outlook Acquisition.