NEW YORK (S&P Global Ratings) Aug. 2, 2023--S&P Global Ratings today said that Engineered Machinery Holdings Inc.'s (doing business as Duravant; B-/Stable/--) proposed $125 million first-lien term loan add-on does not affect our ratings, including our issue-level and recovery ratings, although it will modestly increase leverage. Duravant plans to use the proceeds from the add-on to repay the outstanding drawings under its revolving credit facility, which funded its recent acquisition of PPM Technologies, a manufacturer of conveying, coating, grading, frying, and cooling equipment and parts and services for the food industry. Our 'B-' issue-level rating and '3' recovery rating on the first-lien facilities are unaffected by the proposed transaction. The '3' recovery rating indicates our expectation for meaningful (50%-70%; rounded
