...+ U.S.-based metals powders producer Alchemy International Holdings, LLC (Kymera) is seeking a $240 million seven-year first-lien term loan. + Palladium Equity Partners will use the proceeds, along with a $188 million equity contribution to fund the acquisition of Kymera. + The company is also entering into a $35 million asset based lending (ABL) facility due 2023 (unrated) which we expect will be undrawn at closing. + We are assigning our 'B' issuer credit rating to Kymera, and our 'B' issue-level rating to the company's proposed first-lien term loan, along with a '3' recovery rating, indicating our expectation of meaningful recovery in a payment default. + The outlook is stable, reflecting our view that the company will continue its historically steady performance despite recent lower commodity prices, and that adjusted leverage will remain in the 4x-5x range over the next year....
