Bowlmor AMF Corp. 'B' Rating Affirmed On Acquisition By Atairos; Outlook Stable; Debt Ratings Assigned - S&P Global Ratings’ Credit Research

Bowlmor AMF Corp. 'B' Rating Affirmed On Acquisition By Atairos; Outlook Stable; Debt Ratings Assigned

Bowlmor AMF Corp. 'B' Rating Affirmed On Acquisition By Atairos; Outlook Stable; Debt Ratings Assigned - S&P Global Ratings’ Credit Research
Bowlmor AMF Corp. 'B' Rating Affirmed On Acquisition By Atairos; Outlook Stable; Debt Ratings Assigned
Published Jun 20, 2017
4 pages (1748 words) — Published Jun 20, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

To finance its acquisition by financial sponsor Atairos Group Inc., Bowlmor AMF Corp. (through its borrower subsidiary Kingpin Intermediate Holdings LLC) will issue first-lien debt consisting of a $50 million revolving credit facility due 2022, a $535 million first-lien term loan due 2024, and a second-lien term loan of $160 million due 2025. We are affirming our 'B' corporate credit rating on Bowlmor AMF Corp. We are also assigning our 'B+' issue-level rating to the revolving credit facility and the first-lien term loan, and our 'CCC+' issue-level rating to the second-lien term loan. We anticipate Bowlmor's existing debt to be refinanced upon close of the transaction, at which time we plan to withdraw the debt ratings. The stable outlook reflects

  
Brief Excerpt:

...+ To finance its acquisition by financial sponsor Atairos Group Inc., Bowlmor AMF Corp. (through its borrower subsidiary Kingpin Intermediate Holdings LLC) will issue first-lien debt consisting of a $50 million revolving credit facility due 2022, a $535 million first-lien term loan due 2024, and a second-lien term loan of $160 million due 2025. + We are affirming our 'B' corporate credit rating on Bowlmor AMF Corp. + We are also assigning our 'B+' issue-level rating to the revolving credit facility and the first-lien term loan, and our '###+' issue-level rating to the second-lien term loan. + We anticipate Bowlmor's existing debt to be refinanced upon close of the transaction, at which time we plan to withdraw the debt ratings. + The stable outlook reflects our expectation for good operating performance and that Bowlmor will improve our measure of adjusted debt to EBITDA to the low-7x area by fiscal 2019 ended June. NEW YORK (S&P Global Ratings) June 20, 2017--S&P Global Ratings today affirmed...

  
Report Type:

Ratings Action

Issuer
Bowlmor AMF Corp.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bowlmor AMF Corp. 'B' Rating Affirmed On Acquisition By Atairos; Outlook Stable; Debt Ratings Assigned" Jun 20, 2017. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bowlmor-AMF-Corp-B-Rating-Affirmed-On-Acquisition-By-Atairos-Outlook-Stable-Debt-Ratings-Assigned-1871435>
  
APA:
S&P Global Ratings’ Credit Research. (). Bowlmor AMF Corp. 'B' Rating Affirmed On Acquisition By Atairos; Outlook Stable; Debt Ratings Assigned Jun 20, 2017. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bowlmor-AMF-Corp-B-Rating-Affirmed-On-Acquisition-By-Atairos-Outlook-Stable-Debt-Ratings-Assigned-1871435>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.