...+ Center Valley, Pa.-based Avantor Inc. plans to issue a $1.425 billion first-lien term loan and $380 million second-lien term loan through its subsidiary Avantor Performance Materials Holdings LLC. The company will use proceeds to repay its existing first-lien term loan to make a $439 million distribution to shareholders, and fund fees and expenses. + Avantor reorganized its corporate structure following its merger with NuSil Technology LLC in 2016. Following the reorganization, the entities to which we assign ratings are being updated. + We are assigning our 'B' corporate credit rating to Avantor Inc. We are assigning our 'B' issue-level rating and '3' recovery rating to the proposed first-lien credit facility. We are assigning our '###+' issue-level rating and '6' recovery rating to the proposed $380 million second-lien term loan. + We are withdrawing the issue-level and recovery ratings on the company's previously existing second-lien term loan, which was redeemed in 2016. + We expect...