Bulletin: Ankura Holdings' Credit Quality Not Affected By Proposed Repricing And Extension Of Its Credit Facilities - S&P Global Ratings’ Credit Research

Bulletin: Ankura Holdings' Credit Quality Not Affected By Proposed Repricing And Extension Of Its Credit Facilities

Bulletin: Ankura Holdings' Credit Quality Not Affected By Proposed Repricing And Extension Of Its Credit Facilities - S&P Global Ratings’ Credit Research
Bulletin: Ankura Holdings' Credit Quality Not Affected By Proposed Repricing And Extension Of Its Credit Facilities
Published Dec 11, 2024
3 pages (1275 words) — Published Dec 11, 2024
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About This Report

  
Abstract:

This report does not constitute a rating action. ENGLEWOOD (S&P Global Ratings) Dec. 10, 2024--S&P Global Ratings today said that its ratings and outlook on Ankura Holdings L.P. (B-/Stable/--) are unchanged following Ankura Consulting Group LLC's announcement of a proposed repricing and extension to its senior secured credit facility. Ankura Consulting Group LLC plans to extend its revolving credit facility?s maturity five years to 2029. In addition, the company plans to extend its first-lien term loan seven years to 2031 and modestly upsize it to $925 million from $913 million. We believe the transaction has improved the company?s debt maturity profile and its mandatory cash interest payments. The modestly higher amount of first-lien term loan debt does not materially affect

  
Brief Excerpt:

...Our simulated default scenario contemplates a hypothetical payment default occurring in 2026 because of factors such as a recession, increased competition, reputational deterioration, the loss of clients, and the loss of key employees....

  
Report Type:

Bulletin

Ticker
1544795D
Issuer
Ankura Holdings L.P.
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Ankura Holdings' Credit Quality Not Affected By Proposed Repricing And Extension Of Its Credit Facilities" Dec 11, 2024. Alacra Store. May 18, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ankura-Holdings-Credit-Quality-Not-Affected-By-Proposed-Repricing-And-Extension-Of-Its-Credit-Facilities-3298220>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Ankura Holdings' Credit Quality Not Affected By Proposed Repricing And Extension Of Its Credit Facilities Dec 11, 2024. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ankura-Holdings-Credit-Quality-Not-Affected-By-Proposed-Repricing-And-Extension-Of-Its-Credit-Facilities-3298220>
  
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