Acrisure Holdings Inc. 'B' Ratings Affirmed On Debt Issuance And Add-On; The Outlook Is Stable - S&P Global Ratings’ Credit Research

Acrisure Holdings Inc. 'B' Ratings Affirmed On Debt Issuance And Add-On; The Outlook Is Stable

Acrisure Holdings Inc. 'B' Ratings Affirmed On Debt Issuance And Add-On; The Outlook Is Stable - S&P Global Ratings’ Credit Research
Acrisure Holdings Inc. 'B' Ratings Affirmed On Debt Issuance And Add-On; The Outlook Is Stable
Published Oct 30, 2017
4 pages (1702 words) — Published Oct 30, 2017
Price US$ 150.00  |  Buy this Report Now

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Abstract:

Insurance broker Acrisure is issuing a $325 million first-lien term loan add-on and $725 million in senior notes to fund acquisitions under signed letters of intent (LOIs) and to repay its existing second-lien term loan. We are affirming our 'B' long-term issuer credit rating on Acrisure, as well as our 'B' issue-level rating on company's first-lien credit facilities. We are also assigning our 'CCC+' issue-level rating to the company's new senior notes with '6(0%)' recovery. The stable outlook reflects our expectation that Acrisure will sustain favorable operating trends. NEW YORK (S&P Global Ratings) Oct. 30, 2017--S&P Global Ratings said today it affirmed its 'B' long-term issuer credit rating on Acrisure Holdings Inc. and its core subsidiaries. The outlook is stable.

  
Brief Excerpt:

...+ Insurance broker Acrisure is issuing a $325 million first-lien term loan add-on and $725 million in senior notes to fund acquisitions under signed letters of intent (LOIs) and to repay its existing second-lien term loan. + We are affirming our 'B' long-term issuer credit rating on Acrisure, as well as our 'B' issue-level rating on company's first-lien credit facilities. + We are also assigning our '###+' issue-level rating to the company's new senior notes with '6(0%)' recovery. + The stable outlook reflects our expectation that Acrisure will sustain favorable operating trends. NEW YORK (S&P Global Ratings) Oct. 30, 2017--S&P Global Ratings said today it affirmed its 'B' long-term issuer credit rating on Acrisure Holdings Inc. and its core subsidiaries. The outlook is stable. At the same time, we affirmed our 'B' issue-level ratings on the company's first-lien credit facilities: the $200 million revolver due 2021 and upsized $2.2 billion term loan due 2023 (including the existing $1.9...

  
Report Type:

Ratings Action

Issuer
GICS
Insurance Brokers (40301010)
Sector
Global Issuers
Country
Region
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "Acrisure Holdings Inc. 'B' Ratings Affirmed On Debt Issuance And Add-On; The Outlook Is Stable" Oct 30, 2017. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Acrisure-Holdings-Inc-B-Ratings-Affirmed-On-Debt-Issuance-And-Add-On-The-Outlook-Is-Stable-1939609>
  
APA:
S&P Global Ratings’ Credit Research. (). Acrisure Holdings Inc. 'B' Ratings Affirmed On Debt Issuance And Add-On; The Outlook Is Stable Oct 30, 2017. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Acrisure-Holdings-Inc-B-Ratings-Affirmed-On-Debt-Issuance-And-Add-On-The-Outlook-Is-Stable-1939609>
  
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