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Article: Burke Industries Assigned 'B+' Senior Unsecured Debt Rating by Standard & Poor's
- Article from:
- PR Newswire
- Article date:
- April 13, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, April 13 /PRNewswire/ -- Standard & Poor's today assigned its single-'B'-plus senior unsecured debt rating to Burke Industries, Inc.'s $30 million floating interest rate senior notes due 2007, to be issued under Rule 144A. The company's single-'B'-plus corporate credit rating and senior unsecured debt ratings were affirmed.
The outlook was changed to negative from stable.
Burke, a modest-sized manufacturer of engineered silicone, rubber, and vinyl-based products, recently announced the planned acquisition of Mercer Products Co. Inc., which will be mostly debt-financed. Mercer's extruded plastic and vinyl flooring products and East ...