Bulletin: Acrisure Holdings, Inc. Ratings Unaffected By Proposed Debt Issuance

NEW YORK (S&P Global Ratings) May 3, 2017--S&P Global Ratings said today its ratings on Acrisure Holdings Inc. and its core subsidiaries--including its 'B' long-term corporate credit rating, 'B' first-lien credit facility debt ratings, and 'CCC+' second-lien term loan debt rating--are unaffected by Acrisure's plan to issue additional debt. Acrisure will add $595 million (up from its previously announced $450 million) to its first-lien term loan due 2023, and $225 million (up from its previously announced $175 million) to its second-lien term loan due 2024. The company will use the proceeds of the add-ons to fund acquisitions under signed and submitted letters of intent. We project the proposed add-ons to be leverage neutral by year-end 2017 (see Acrisure Holdings Inc.

...NEW YORK (S&P Global Ratings) May 3, 2017--S&P Global Ratings said today its ratings on Acrisure Holdings Inc. and its core subsidiaries--including its 'B' long-term corporate credit rating, 'B' first-lien credit facility debt ratings, and '###+' second-lien term loan debt rating--are unaffected by Acrisure's plan to issue additional debt. Acrisure will add $595 million (up from its previously announced $450 million) to its first-lien term loan due 2023, and $225 million (up from its previously announced $175 million) to its second-lien term loan due 2024. The company will use the proceeds of the add-ons to fund acquisitions under signed and submitted letters of intent. We project the proposed add-ons to be leverage neutral by year-end 2017 (see Acrisure Holdings Inc. And Subsidiaries 'B' Ratings Affirmed, Debt Ratings Affirmed; The Outlook Is Stable, published April 25, 2017 on RatingsDirect). Only a rating committee may determine a rating action and this report does not constitute a rating...

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