Bulletin: BCP Renaissance Parent LLC's $75 Million Term Loan Add-On Is Credit Neutral - S&P Global Ratings’ Credit Research

Bulletin: BCP Renaissance Parent LLC's $75 Million Term Loan Add-On Is Credit Neutral

Bulletin: BCP Renaissance Parent LLC's $75 Million Term Loan Add-On Is Credit Neutral - S&P Global Ratings’ Credit Research
Bulletin: BCP Renaissance Parent LLC's $75 Million Term Loan Add-On Is Credit Neutral
Published Sep 13, 2023
2 pages (971 words) — Published Sep 13, 2023
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Abstract:

NEW YORK (S&P Global Ratings) Sept. 13, 2023--S&P Global Ratings today said that BCP Renaissance Parent LLC's (B+/Stable/--) proposed upsizing of its senior secured term loan B does not affect our ratings. The $75 million add-on will result in an outstanding balance of approximately $1.075 billion on the term loan. There were no changes to the credit agreement. Because the add-on will not materially affect BCP's credit metrics, we still expect S&P Global Ratings-adjusted debt to EBITDA of 6.5x-7.0x and interest coverage below 2x through 2024. For our most recent analysis, see our full analysis on BCP published March 17, 2023, on RatingsDirect.

  
Brief Excerpt:

...September 13, 2023 NEW YORK (S&P Global Ratings) Sept. 13, 2023--S&P Global Ratings today said that BCP Renaissance Parent LLC's (B+/Stable/--) proposed upsizing of its senior secured term loan B does not affect our ratings. The $75 million add-on will result in an outstanding balance of approximately $1.075 billion on the term loan. There were no changes to the credit agreement. Because the add-on will not materially affect BCP's credit metrics, we still expect S&P Global Ratings-adjusted debt to EBITDA of 6.5x-7.0x and interest coverage below 2x through 2024. For our most recent analysis, see our full analysis on BCP published March 17, 2023, on RatingsDirect....

  
Report Type:

Bulletin

Issuer
BCP Renaissance Parent LLC
GICS
Asset Management & Custody Banks (40203010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: BCP Renaissance Parent LLC's $75 Million Term Loan Add-On Is Credit Neutral" Sep 13, 2023. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-BCP-Renaissance-Parent-LLC-s-75-Million-Term-Loan-Add-On-Is-Credit-Neutral-3055021>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: BCP Renaissance Parent LLC's $75 Million Term Loan Add-On Is Credit Neutral Sep 13, 2023. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-BCP-Renaissance-Parent-LLC-s-75-Million-Term-Loan-Add-On-Is-Credit-Neutral-3055021>
  
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