...NEW YORK (S&P Global Ratings) Nov. 13, 2018--S&P Global Ratings today assigned its 'B' issue-level rating to Avantor Inc.'s new USD-denominated term loan and new Euro-denominated term loan. The recovery rating on this debt is '3', indicating our expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default. The issue-level and recovery ratings on this debt are the same as those on Avantor's existing term loans, which is being repriced in this transaction, though the estimated recovery is slightly lower given our expectation for slightly lower fixed charges under the new capital structure. The transaction does not affect leverage and improves cash flow modestly. The ratings on the revolver and secured notes are unchanged at 'B' and the recovery rating remains '3' indicating our expectation for meaningful (50%-70%; rounded estimate: 50%) in the event of a payment default. The ratings on the existing unsecured notes also remain the same, with a recovery...