SAN FRANCISCO (S&P Global Ratings) Oct. 7, 2021--S&P Global Ratings said today that Providence, R.I.-based Red IntermediateCo LLC's (d/b/a Virgin Plus; B-/Stable/--) plan to acquire Denver-based Welltok does not affect its ratings or outlook on the company. We expect the transaction to close in October 2021. Virgin Pulse, an employee health and well-being digital platform and services provider, will fund the transaction through an increase of its first-lien term loan by $35 million to $540 million, and its second-lien term loan by $15 million to $200 million, along with rollover and additional sponsor contributed equity. We expect its cash interest expense to increase by about $3 million annually, though this is $9 million higher than our prior forecast from higher-than-expected
