TEXT-S&P rates Anixter notes 'BB'

April 25 - Standard & Poor's Ratings Services said today that it assigned its 'BB' issue-level rating to Glenview, Ill.-based Anixter Inc.'s $350 million senior unsecured notes due 2020. The recovery rating on this debt is '4', indicating our expectation of average (30%-50%) recovery for lenders in the event of a payment default. The 'BB' corporate credit rating on parent Anixter International Inc., the guarantor of the notes, remains unchanged. The ratings on Anixter reflect the company's "s