...On 24 January 2023, Rubix Limited (B3 stable) launched an amend to extend transaction which aims to extend the maturities of all of its senior first and second lien facilities by two years. The proposed transaction, if successful, is expected to be credit positive in addressing near term debt maturities, with the company's 135 million senior secured revolving credit facility currently expiring in March 2024. This will be extended to March 2026, while the company's 1,190 million senior secured first lien term loan will be extended to September 2026 from September 2024, and its 187 million senior secured second lien loan will be extended to September 2027 from September 2025. The company's ratings, including its B3 corporate family rating, the B2 rating on its senior secured first lien facilities and its stable outlook are unchanged. This is because we forecast that the company will remain highly levered, particularly when including expected levels of non-recourse factoring, which we consider...