...February 20, 2024 NEW YORK (S&P Global Ratings) Feb. 20, 2024--S&P Global Ratings today said that its ratings and outlook on Ellucian Holdings Inc. (B-/Stable/--) are unchanged following the company's announcement of an amendment to its existing credit agreement. Under the amendment, Ellucian will issue $420 million of incremental first-lien debt, which it will use to partially repay the outstanding balances under its existing first- and second-lien credit facilities. Following the transaction, the company will have approximately $1.97 billion of first-lien debt and $440 million of second-lien debt outstanding on its balance sheet. The amendment will also extend the maturity of Ellucian's revolving credit facility to 2029. Given the leverage-neutral nature of this transaction, our ratings and outlook on the company are unchanged....
