Bulletin: PPT Holdings I LLC's $70 Million Term Loan To Fund Acquisition Will Have Minimal Impact On Credit Quality - S&P Global Ratings’ Credit Research

Bulletin: PPT Holdings I LLC's $70 Million Term Loan To Fund Acquisition Will Have Minimal Impact On Credit Quality

Bulletin: PPT Holdings I LLC's $70 Million Term Loan To Fund Acquisition Will Have Minimal Impact On Credit Quality - S&P Global Ratings’ Credit Research
Bulletin: PPT Holdings I LLC's $70 Million Term Loan To Fund Acquisition Will Have Minimal Impact On Credit Quality
Published Sep 24, 2021
2 pages (1162 words) — Published Sep 24, 2021
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Abstract:

NEW YORK (S&P Global Ratings) Sept. 24, 2021--S&P Global Ratings today said it expects PPT Holdings I LLC's (B-/Stable/--) $70 million incremental term loan to repay revolver borrowings and acquire the maintenance client list and certain assets of Congruity360 LLC, will temporarily increase S&P Global Ratings-adjusted leverage. Our 'B-' issue-level and '3' recovery ratings on PPT's first-lien debt (term loan and revolving credit facility) are unchanged. Congruity360 brings modest revenue and EBITDA at the outset; however, benefits from the deal come from a stronger market position in the third-party maintenance (TPM) market and enhancement of its data migration business as well as further diversification of its client base. We expect PPT to use its existing resource to provide TPM services,

  
Report Type:

Bulletin

Issuer
PPT Holdings I LLC
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: PPT Holdings I LLC's $70 Million Term Loan To Fund Acquisition Will Have Minimal Impact On Credit Quality" Sep 24, 2021. Alacra Store. May 11, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-PPT-Holdings-I-LLC-s-70-Million-Term-Loan-To-Fund-Acquisition-Will-Have-Minimal-Impact-On-Credit-Quality-2727539>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: PPT Holdings I LLC's $70 Million Term Loan To Fund Acquisition Will Have Minimal Impact On Credit Quality Sep 24, 2021. New York, NY: Alacra Store. Retrieved May 11, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-PPT-Holdings-I-LLC-s-70-Million-Term-Loan-To-Fund-Acquisition-Will-Have-Minimal-Impact-On-Credit-Quality-2727539>
  
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