Robertshaw Holdings S.a.r.l is refinancing debt and paying a distribution to its shareholders, which includes financial sponsor Sun Capital Partners. We are assigning our 'B' corporate credit rating to Robertshaw Holdings and our 'B' and 'CCC+' issue-level ratings to the proposed first-lien and second-lien term loans, based on recovery ratings of '3' and '6' on these loans, respectively. The stable outlook reflects our view that demand for home and commercial appliances, electric vehicles, and aftermarket products will remain solid, allowing the company to maintain an adjusted debt-to-EBITDA ratio of below 7.0x during the next year. On July 19, 2017, S&P Global Ratings assigned its 'B' corporate credit rating to Robertshaw Holdings S.a.r.l, the Luxembourg-domiciled indirect parent of Robertshaw Controls Co.,
