10:18 AM EDT, 05/16/2024 (MT Newswires) -- S&P Global Ratings on Wednesday assigned its "BB" issue-level rating and "3" recovery rating to Celestica's ( CLS ) proposed US$500 million term loan B.

The "3" recovery rating indicates the rating agency's expectation of meaningful recovery in a simulated default scenario.

The term loan will rank pari passu in right of payment with the company's new US$750 million revolving credit facility and US$250 million term loan A.

The "BB" issuer credit rating and stable outlook on Celestica ( CLS ) remain unchanged.

The company's shares slipped 0.9% on last look on Thursday in Canada.

Price: 70.46, Change: -0.34, Percent Change: -0.48