...December 18, 2024 NEW YORK (S&P Global Ratings) Dec. 18, 2024--S&P Global Ratings today assigned its '##-' issue rating to Allspring Buyer LLC (Allspring)'s first-lien term loan B following a repricing of its June 2022 $245 million add-on to its $1.1 billion first lien term loan B. The repriced first-lien term loan amount will combine the previous $1.1 billion term loan and $245 million add-on for a total of $1.32 billion. As part of the transaction, the company also lowered the margin and extended the maturity to 2030 from 2028. Our issuer credit rating on Allspring (##-/Negative/--) is unchanged by the transaction. The outlook on Allspring is negative, reflecting S&P Global Ratings' expectation that, over the next 12 months, the company could operate with leverage above 5.0x. Issue Ratings--Recovery Analysis Key analytical factors - Our recovery analysis includes the company's $170 million senior unsecured revolving credit facility due 2029 and its $1.3 billion senior secured term loan...
