Bulletin: NEWAsurion Corp. And Subsidiaries Ratings Unaffected By Bank Loan Repricing

NEW YORK (S&P Global Ratings) April 17, 2017--S&P Global Ratings said today its 'B+' long-term counterparty credit and senior secured debt ratings and its '2 (80%)' recovery ratings on NEWAsurion Corp.'s senior secured debt remain unchanged following the company's proposed repricing of its $1.4 billion first-lien term bank loan B-5 due 2023. The company intends to achieve moderate interest cost savings on the first-lien term loan B-5 which currently has a rate of L+3.75% with a floor of 1%. The company's senior secured facilities consist of a $190 million first-lien revolver, a $1.21 billion first-lien term loan B-2, a $2.65 billion first-lien term loan B-4, and a $1.4 billion first-lien term loan B-5. Our 'B-' ratings and our '6 (5%)'

...NEW YORK (S&P Global Ratings) April 17, 2017--S&P Global Ratings said today its 'B+' long-term counterparty credit and senior secured debt ratings and its '2 (80%)' recovery ratings on NEWAsurion Corp.'s senior secured debt remain unchanged following the company's proposed repricing of its $1.4 billion first-lien term bank loan B-5 due 2023. The company intends to achieve moderate interest cost savings on the first-lien term loan B-5 which currently has a rate of L+3.75% with a floor of 1%. The company's senior secured facilities consist of a $190 million first-lien revolver, a $1.21 billion first-lien term loan B-2, a $2.65 billion first-lien term loan B-4, and a $1.4 billion first-lien term loan B-5. Our 'B-' ratings and our '6 (5%)' recovery ratings on Asurion LLC's $2.15 billion second-lien term loan and Lonestar Intermediate Super Holdings LLC's $550 million senior unsecured term loan remain unchanged. Only a rating committee may determine a rating action and this report does not constitute...

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