...October 20, 2020 - Germantown, Md.-based government services provider Amentum Holdings LLC announced that it is acquiring Dyncorp International Inc. for $1.055 billion. - The company plans to finance most of the purchase price with debt, which will significantly increase its leverage. We also note that the addition of Dyncorp complements Amentum's business lines and extends its breadth of service offerings. - We are revising our outlook on Amentum to negative from stable and affirming our 'B' issuer credit rating on the company. - We are assigning our 'B' issue-level rating and '3' recovery rating to the company's proposed $980 million first-lien incremental term loan due 2027. At the same time, we are affirming our 'B' issue-level rating on the company's first-lien credit facility and term loan, based on our understanding of its capital structure pro forma for the acquisition, including the incremental term loan to fund a portion of the purchase price. The '3' recovery rating is unchanged....
